Grayscale Launches Two Trusts Linked to Sui Ecosystem Protocols

Grayscale announced the launch of two single-asset trusts linked to the Sui ecosystem on Tuesday amid a recent surge in activity on the network.

According to an announcement, the two trusts are investment vehicles that provide accredited investors exposure to the native tokens of DeepBook (DEEP) and Walrus (WAL). The move comes almost a year after Grayscale launched its first Sui product.

DeepBook is an onchain order book that has reportedly processed over $10 billion in volume. Walrus is a platform that offers programmable data storage. The Walrus Foundation raised $140 million from Standard Crypto and others in March 2025.

“DeepBook and Walrus are the financial and active data management backbones of the Sui ecosystem, enabling developers to build fast, secure, and decentralized applications,” Grayscale head of product and research Rayhaneh Sharif-Askary told Cointelegraph.

“Sui’s unique blockchain architecture and programming language open the door to faster, more efficient, and more affordable blockchain experiences,” she added.

Related: Grayscale adds Wall Street veterans as founder Barry Silbert returns to chair

DeFi activity soars on the Sui network

The Sui decentralized finance ecosystem has seen increased activity in the past month. The blockchain’s total value locked reached an all-time high of $2.3 billion on July 28, though it has since fallen to $2.2 billion.

Launched in May 2023 by Mysten Labs, Sui was designed to manage a high volume of transactions with minimal delay, more technically known as high-throughput and low latency. It helps do this, in part, by a feature called parallel transaction processing.

On July 28, Mill City Ventures became the first publicly traded company to create a Sui treasury, raising $441 million with 98% of the proceeds going to the purchase of Sui (SUI) tokens. It would follow that up with a $500 million raise on Aug. 1 for the same purpose. In one month, the company’s shares are up 274%, according to Google Finance.

Mysten Labs co-founder and chief product officer Adeniyi Abiodun told Cointelegraph that through the Grayscale trusts, Mill City Ventures, and other investment vehicles, “institutions, their clients, and retail traders outside of traditional crypto platforms can have unprecedented exposure to the Sui ecosystem.” 

Magazine: X Hall of Flame: DeFi will rise again after memecoins die down: Sasha Ivanov