Grayscale Expands Offerings with New Trusts Tied to Sui Ecosystem
Grayscale, a prominent digital asset manager, has introduced two new investment trusts connected to protocols within the Sui blockchain ecosystem. These additions aim to provide investors with exposure to emerging projects on Sui, a layer-1 blockchain known for its high-speed transactions and scalability.
The two protocols linked to the new trusts, DeepBook and Walrus’s Winter Walrus, currently sit outside the top 10 projects in the Sui ecosystem by total value locked (TVL), according to data from DefiLlama. Despite their lower rankings, Grayscale’s move signals confidence in their potential growth as the Sui network continues to expand.
DeepBook operates as a decentralized order book, facilitating efficient trading within the Sui ecosystem. Meanwhile, Winter Walrus, developed by Walrus, offers a suite of decentralized finance (DeFi) tools, though specific details about its functionality remain limited.
Grayscale’s decision to launch these trusts aligns with its strategy of broadening access to blockchain-based assets. The company has previously launched similar products tied to other ecosystems, providing institutional and retail investors with regulated avenues to gain exposure to crypto projects.
The Sui blockchain, developed by Mysten Labs, has gained traction for its focus on speed and low-cost transactions, positioning itself as a competitor to other layer-1 networks like Solana and Aptos. While still relatively young, Sui’s ecosystem has seen steady growth, with several DeFi protocols and decentralized applications (dApps) gaining users.
Grayscale’s latest offerings could bring additional attention to Sui, potentially driving more liquidity and development to its ecosystem. However, the long-term success of these trusts will depend on the adoption and performance of DeepBook and Winter Walrus.
As the crypto market evolves, asset managers like Grayscale continue to explore new opportunities, bridging traditional finance with decentralized technologies. The introduction of these Sui-linked trusts marks another step in that direction.
