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- Grayscale opens DEEP and WAL trusts for accredited investors, expanding beyond its existing Sui Trust.
- SUI token price jumps 5% to $3.86 with trading volume spiking over 32% in a day.
Grayscale announced on August 12 the launch of two single-asset trusts tied to the Sui blockchain’s DeepBook (DEEP) and Walrus (WAL) protocols. This step expands the company’s offerings beyond its existing Sui Trust, introduced last year.
The trusts are now open for daily subscriptions to accredited investors, granting access to DeepBook’s central limit order book and Walrus’s on-chain data layer. Both are positioned as core building blocks of Sui’s design, supporting low-latency trading and scalable, privacy-focused data services.
By directing investment into these infrastructure-focused tokens, Grayscale is signaling a shift from the common asset management approach that primarily targets Layer 1 tokens. DeepBook targets institutional-grade liquidity, and Walrus tackles scalable storage for decentralized finance, gaming, and social use cases.
Grayscale launches New Trusts — Targeting Growth in Sui Ecosystem
Rayhaneh Sharif-Askary, Product & Research Head at Grayscale, commented that the launch provides exposure to “two key protocols driving innovation within the Sui ecosystem.” The product rollout indicates a wider institutional strategy that centers around infrastructure solutions aiming to address performance issues within blockchain.
Co-Founder and CPO of Mysten Labs, Adeniyi Abiodun, referred to the launches as “a seminal moment in the journey of the Sui ecosystem,” citing relentless efforts to enhance the network’s infrastructure from its beginning.
Although these trusts pursue exposure to increasing interest in protocol-level coins, Grayscale has warned about the risks. Both DEEP and WAL are relatively new trusts; their usage is unproven, and volatility is high. The company also cautioned that no guarantee exists that these trusts would be authorized for secondary trading.
Investor Interest Fuels SUI Price Gains
Following the announcement, the SUI token gained 5.06% in 24 hours to $3.87. Trading volume increased 32.53% to $1.88 billion, which shows increased activity in markets. Although the trusts focus on DEEP and WAL, this launch seems to have assisted sentiment across the broader network.
The token is now above the middle Bollinger Band, which is at $3.75. The first important resistance area is at the upper band level of $4.25, followed by $4.50 and $5.00 based on Fibonacci retracement levels. Support remains around $3.25, and a break below this could send prices down to $3.
Meanwhile, a cryptocurrency analyst Lingrid noted that SUI just retested a key line after escaping from a triangle formation, holding higher lows in a bullish setup. In this type of formation, price action in the past resulted in quick rallies.
With its current momentum, analysts predict likely moves to the area of $4.20–$4.50. Another analyst, Kamran Asghar, is more optimistic, even forecasting that it may jump to $6.20 in the short term.
