Grayscale Introduces $DEEP and $WAL Trusts on the Sui Blockchain Network
In a significant move, Grayscale, a leading digital asset manager, has announced the creation of two new investment vehicles for Sui Network – the Grayscale DeepBook Trust ($DEEP) and Grayscale Walrus Trust ($WAL). This decision marks a shift in focus from speculative token investments towards infrastructure plays, indicating institutional interest in Sui's long-term utility and scalability.
The Grayscale Walrus Trust, in particular, gained more than 7 percent to 0.43 after the announcement, reflecting the market's enthusiasm for this investment. Walrus is a chain-agnostic, decentralized data management tool that is secure, programmable, and scalable. It recently raised $140 million in funding, indicating strong investor confidence.
On the other hand, DeepBook is an on-chain order book native to Sui, offering ultralow latency trading and competitive price execution. Its potential impact on Ethereum, Solana, and other high-performance Layer 1 blockchains in the decentralized finance (DeFi) and data infrastructure sectors could be significant. DeepBook's $10 billion+ processed volume on-chain suggests it could provide a competitive alternative for DeFi applications that require low fees, high throughput, and transparent liquidity layers.
This investment by Grayscale is expected to facilitate more professional investor participation in Sui’s protocols, which extend beyond typical token speculation by focusing on critical infrastructure: liquidity provision and active data management. This could accelerate Sui’s growth in the DeFi and data infrastructure tracks, potentially attracting projects that currently use Ethereum or Solana but seek improved scalability and cost efficiency.
Sui Network's transaction throughput exceeds 120,000 transactions per second (TPS), making it a high-performance blockchain pioneer. Its recent technical advancements include sub-second finality of transactions. With a total value locked (TVL) of 2.3 billion, Sui has almost 200 decentralized applications.
The launch of these trusts could open up new institutional liquidity and drive developer adoption for Sui. Key players in the financial industry like Franklin Templeton and Mill City Ventures have expressed interest in Sui-based opportunities. With Grayscale's support, Sui may put pressure on Ethereum, Solana, and other high-performance Layer 1s, particularly in the DeFi and data-infrastructure tracks.
The Grayscale DeepBook Trust also saw a gain of more than 12 percent to 0.17 after the announcement. Sui Network's positioning as a high-performance blockchain pioneer could lead to a larger market share in enterprise and DeFi markets in 2025 and beyond. Despite volatility and regulatory challenges, the launch of DeepBook and Walrus Trusts positions Sui to take a larger market share.
In conclusion, Grayscale's investment in Sui Network signals institutional confidence in its infrastructure protocols, potentially shifting some DeFi and data infrastructure activity from Ethereum and Solana towards Sui’s ecosystem. This competition may drive innovation and efficiency improvements across these high-performance Layer 1s, ultimately benefiting the broader blockchain landscape.
- Grayscale's investment in Sui Network's Grayscale Walrus Trust, a chain-agnostic, decentralized data management tool, gained more than 7 percent to 0.43 after the announcement, showcasing market enthusiasm for this investment.
- DeepBook, an on-chain order book native to Sui, could provide a competitive alternative for DeFi applications that require low fees, high throughput, and transparent liquidity layers, as it has a processed volume on-chain of over $10 billion.
- With Sui Network's transaction throughput exceeding 120,000 transactions per second, it is a high-performance blockchain pioneer, positioning it for a larger market share in enterprise and DeFi markets in 2025 and beyond.
- Grayscale's investment is expected to facilitate more professional investor participation in Sui’s protocols, such as liquidity provision and active data management, which could accelerate Sui’s growth in the DeFi and data infrastructure tracks.
- Key players in the financial industry like Franklin Templeton and Mill City Ventures have expressed interest in Sui-based opportunities, suggesting that the launch of these trusts could open up new institutional liquidity and drive developer adoption for Sui.
- The competition between Sui and high-performance Layer 1s like Ethereum and Solana, driven by Grayscale's investment, may drive innovation and efficiency improvements across these blockchains, ultimately benefiting the broader blockchain landscape.
