Grayscale Debuts DeepBook & Walrus Trusts, DEEP & WAL Rally
Grayscale launched DeepBook and Walrus trusts on August 12, offering direct exposure to DEEP and WAL tokens tied to the Sui blockchain. Grayscale DeepBook Walrus Trusts provide accredited investors a daily subscription path into two core DeFi infrastructure assets. DeepBook (DEEP) powers a central limit order book for Sui protocols, while Walrus (WAL) delivers a privacy-focused on-chain data layer.
Following the announcement, DEEP surged over 12% to $0.17, and WAL gained around 7% to $0.43, driven by market volatility and institutional interest. Combined market caps reached nearly $1.19 billion with daily volumes above $70 million. This rally underscores growing demand for Sui-based tokens and highlights Grayscale’s recovery from the 2023 FTX fallout on its path back to a $50 billion valuation.
The launch of Grayscale DeepBook Walrus Trusts marks a bullish step for Sui’s ecosystem, strengthening token liquidity and opening new avenues for DeFi and data infrastructure investment.
Bullish
Grayscale’s launch of dedicated DeepBook and Walrus trusts signals strong institutional confidence in Sui’s infrastructure tokens. Historically, Grayscale trust launches—such as its Bitcoin and Ethereum trusts—have driven significant inflows and price upticks for underlying assets. The immediate DEEP and WAL price increases following the product debut reflect renewed investor appetite and heightened liquidity. In the short term, traders may respond with increased buying pressure, amplifying volatility and potentially spurring further gains. Over the longer term, these trusts could attract sustained institutional capital, enhancing token stability and market depth. By expanding its product suite amid a regulatory tailwind, Grayscale positions DEEP and WAL for broader adoption, making the overall outlook decidedly bullish for the Sui ecosystem.