Grayscale Investments, the world's largest digital asset manager, has launched two new single-asset trusts focused on altcoins within the Sui blockchain ecosystem. The Grayscale DeepBook Trust and Grayscale Walrus Trust exclusively hold DEEP and WAL tokens respectively, offering accredited investors exposure to these foundational protocols.
DEEP serves as the native token for DeepBook, Sui's central limit order book decentralized exchange (CLOB DEX), functioning as the primary liquidity layer for DeFi applications. WAL powers the Walrus protocol, enabling decentralized data management infrastructure. Both trusts operate as private placement products available only to qualified institutional and high-net-worth individual investors.
Rayhaneh Sharif-Askary, Grayscale's Head of Product and Research, emphasized these offerings provide access to "two core protocols driving innovation in the Sui ecosystem." Mysten Labs Co-Founder Adeniyi Abiodun characterized the launch as a "pivotal moment" for Sui, noting both protocols provide critical blockchain infrastructure. Following the announcement, both tokens demonstrated immediate price appreciation.
The products feature Grayscale's custody solutions and regulatory framework while carrying standard considerations: management fees (undisclosed), limited liquidity compared to public markets, and cryptocurrency volatility. This marks Grayscale's continued expansion into Sui ecosystem assets, complementing their existing SUI trust.