Grayscale Unveils Sui Trusts for DEEP & WAL Amid TVL Surge
Grayscale has launched two single-asset Sui trust products tied to DeepBook (DEEP) and Walrus (WAL), marking its second Sui offering in a year. Qualified investors can now gain direct exposure to native DEEP and WAL tokens via the new Grayscale Sui trusts. DeepBook—an on-chain order book—has processed over $10 billion in trading volume, while Walrus—a programmable data storage platform—raised $140 million in March 2023. The move comes as Sui’s DeFi activity surges, with total value locked (TVL) peaking at a record $2.3 billion on July 28. Momentum was further bolstered by Mill City Ventures’ Sui vault, which raised $441 million on July 28 and added $500 million on August 1. Industry observers note that these institutional-grade vehicles expand access to Sui ecosystem tokens beyond exchanges, potentially boosting demand, liquidity and validating the blockchain’s high-throughput architecture.
Bullish
The launch of these Grayscale Sui trusts for DEEP and WAL provides accredited investors with regulated, accessible exposure to native Sui tokens, expanding institutional capital inflows beyond decentralized exchanges. Historically, the introduction of institutional-grade vehicles has boosted token liquidity and market depth, supporting upward price momentum. In the short term, onboarding of fresh capital through trusts may drive buying pressure, while in the long term, enhanced credibility and liquidity can foster sustainable growth and broader adoption within the Sui ecosystem. Thus, the news is bullish for DEEP and WAL.