Nazia Saeed
- Grayscale Launches Two New Trusts Focused on Sui Ecosystem Protocols
- Sui network’s DeFi activity hits $2.3 billion total value locked (TVL) before a slight pullback
- Institutional interest grows with Mill City Ventures leading Sui treasury initiatives
Grayscale has unveiled two new single-asset trusts connected to the Sui blockchain ecosystem, giving accredited investors access to the native tokens of DeepBook and Walrus. This launch marks nearly a year since Grayscale debuted its first product related to Sui.
DeepBook operates as an onchain order book, reportedly processing over $10 billion in trading volume, while Walrus provides programmable data storage services. In March 2025, the Walrus Foundation secured $140 million in funding from Standard Crypto and other investors.
Rayhaneh Sharif-Askary, Grayscale’s head of product and research, told Cointelegraph that DeepBook and Walrus serve as crucial infrastructure within Sui, supporting the development of fast, secure, and decentralized applications. She noted that Sui’s distinctive blockchain design and programming language enable more efficient and cost-effective blockchain experiences.
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Grayscale surge DeFi activity on the Sui network
The Sui network has experienced notable growth in decentralized finance over the past month. On July 28, its total value locked (TVL) reached a record $2.3 billion before settling slightly to $2.2 billion.
Sui was launched in May 2023 by Mysten Labs and is engineered for high throughput and low latency, leveraging parallel transaction processing to handle large transaction volumes efficiently.
Mill City Ventures made headlines by becoming the first publicly traded company to establish a Sui treasury, raising $441 million in July with 98% allocated to purchasing Sui tokens. The company followed with a $500 million raise on August 1. Its shares have surged 274% in just one month, according to Google Finance.
Adeniyi Abiodun, Mysten Labs co-founder and chief product officer, told Cointelegraph that Grayscale’s trusts, alongside Mill City Ventures and other investment vehicles, are opening new avenues for institutions, clients, and retail traders to access the Sui ecosystem beyond traditional crypto platforms.
Grayscale has unveiled two new single-asset trusts connected to the Sui blockchain ecosystem, giving accredited investors access to the native tokens of DeepBook and Walrus. This launch marks nearly a year since Grayscale debuted its first product related to Sui.
DeepBook operates as an onchain order book, reportedly processing over $10 billion in trading volume, while Walrus provides programmable data storage services. In March 2025, the Walrus Foundation secured $140 million in funding from Standard Crypto and other investors.
Rayhaneh Sharif-Askary, Grayscale’s head of product and research, told Cointelegraph that DeepBook and Walrus serve as crucial infrastructure within Sui, supporting the development of fast, secure, and decentralized applications. She noted that Sui’s distinctive blockchain design and programming language enable more efficient and cost-effective blockchain experiences.
Also read: Grayscale Bitcoin Mini Trust hits $5 billion AUM within a year
Grayscale DeFi activity on the Sui network
The Sui network has experienced notable growth in decentralized finance over the past month. On July 28, its total value locked (TVL) reached a record $2.3 billion before settling slightly to $2.2 billion.
Sui was launched in May 2023 by Mysten Labs and is engineered for high throughput and low latency, leveraging parallel transaction processing to handle large transaction volumes efficiently.
Mill City Ventures made headlines by becoming the first publicly traded company to establish a Sui treasury, raising $441 million in July with 98% allocated to purchasing Sui tokens. The company followed with a $500 million raise on August 1. Its shares have surged 274% in just one month, according to Google Finance.
Adeniyi Abiodun, Mysten Labs co-founder and chief product officer, told Cointelegraph that Grayscale’s trusts, alongside Mill City Ventures and other investment vehicles, are opening new avenues for institutions, clients, and retail traders to access the Sui ecosystem beyond traditional crypto platforms.
