Grayscale Launches DEEP & WAL Trusts to Boost Sui

Grayscale debuts DeepBook (DEEP) and Walrus (WAL) trusts—boosting institutional engagement with the Sui ecosystem’s liquidity and storage infrastructure.

Grayscale Unveils Trusts for Sui's Core Infrastructure

Grayscale has introduced two single-asset investment trusts—the Grayscale DeepBook Trust and Grayscale Walrus Trust—designed to offer accredited investors direct exposure to Sui's foundational protocols, DEEP and WAL. This launch marks a strategic shift from broad Layer 1 token exposure toward deeper, infrastructure-level investments within the Sui ecosystem.

DeepBook & Walrus: Infrastructure Engines of Sui

DeepBook is Sui’s native central limit order book (CLOB) and serves as the liquidity backbone for decentralized finance (DeFi) on the network. It has already processed billions in on-chain trading volume, providing a scalable and efficient trading environment for developers and users.

Walrus is a decentralized, programmable, and chain-agnostic storage protocol built on Sui. It enables secure handling of large-scale data such as media files and gaming assets while ensuring scalability and resilience. Walrus has also attracted significant institutional support, signaling strong confidence in decentralized data solutions.

Grayscale emphasized that both protocols represent critical infrastructure for Web3, powering high-performance liquidity and storage solutions necessary for real-world blockchain applications. Mysten Labs’ leadership described the trusts as a “seminal moment” for the ecosystem, offering investors direct access to the protocols driving innovation on Sui Blockchain.

Institutional Signals and Ecosystem Growth

The introduction of these trusts highlights a growing institutional appetite for infrastructure-centric token exposure, moving beyond speculative assets. This aligns with broader market dynamics where robust liquidity and reliable data frameworks are seen as essential to sustaining decentralized applications and financial services.

Sui’s ecosystem has already shown strong growth, with total value locked (TVL) surpassing $2 billion and decentralized exchange activity consistently ranking among the most active in the market. At the same time, developer momentum remains strong, supported by Sui’s parallel execution model and high throughput capabilities.

Daily active addresses on Sui have reached new highs, with millions of wallets interacting regularly with the network. These metrics underscore a rapidly expanding user base and heightened developer engagement.

Strategic Implications

Grayscale’s new trusts provide several potential benefits to the Sui ecosystem:

• Visibility and Legitimacy: Institutional involvement enhances credibility, drawing further interest from traditional finance.
• Developer and User Attraction: Greater recognition of DEEP and WAL may encourage more developers to build and more users to participate.
• Increased On-Chain Activity: Exposure through structured investment products could drive trading and storage demand, strengthening overall network usage.

This approach represents a broader institutional shift toward supporting the infrastructure underpinning Web3, rather than chasing speculative market cycles. By focusing on DeepBook and Walrus, Grayscale is reinforcing the idea that long-term value in blockchain lies within protocols that provide liquidity, scalability, and secure data management.

Conclusion

The launch of the DeepBook and Walrus Trusts is more than a product introduction—it reflects a strategic pivot toward protocol-level investments that sustain the digital asset economy. For Sui, this development strengthens its position as a leading ecosystem for scalable DeFi and Web3 applications, while signaling a new phase of institutional engagement in blockchain infrastructure.

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