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Sui-related stocks DEEP and WAL are newly adopted by Grayscale Investments.
The major US cryptocurrency asset management firm Grayscale announced on the 12th two investment trusts, DeepBook (DEEP) and Walrus (WAL), which are positioned as core projects of the Sui ecosystem.
DEEP and WAL currently do not have significantly high Total Value Locked (TVL) or trading volume, but they are noted for playing an important role as the financial and data infrastructure of the Sui ecosystem.
Rayhan Sharif Askari, the Head of Products & Research at Grayscale, stated that "DeepBook and Walrus drive innovation on Sui, supporting the next generation of scalable blockchain applications."
Grayscale is expanding its lineup of altcoin investment trusts, and last year it launched a fund themed around AI. Notably, this is the first time a project from the Sui ecosystem has been adopted.
The two investment trusts "DeepBook Trust" and "Walrus Trust" are offered to institutional and qualified investors.
What is Sui (SUI)
Sui is a high-performance blockchain developed by Mysten Labs, founded by former Meta engineers, characterized by fast transactions, low fees, and an excellent user experience. It employs parallel transaction processing and the Move language.
The cryptocurrency SUI, despite the mainnet launch in May 2023, has rapidly grown to a market capitalization of 2 trillion yen and is ranked 14th in the market at the time of writing. In August of last year, the investment trust "Grayscale Sui Trust" was established.