Grayscale has announced that its newly launched Sui Trust is now available to accredited investors. This development, revealed on September 11, extends access to Grayscale’s latest investment vehicle, allowing qualified investors to gain exposure to the Sui blockchain.
Grayscale Expands Investment Options
The Sui Trust, introduced alongside the Bittensor Trust in August, is part of Grayscale’s broader strategy to diversify its cryptocurrency investment offerings. This move expands Grayscale’s product lineup, providing accredited investors with additional avenues to invest in digital assets.
Sui, the blockchain underpinning the new trust, is currently ranked 38th by market capitalization, with a value of $2.4 billion. Designed to enhance the adoption of Web3 applications, Sui features advanced capabilities such as parallel execution, zkLogin, and sponsored transactions.
Sui’s Market Performance and Rebound
Sui’s total value locked (TVL) has shown a significant rebound, climbing to over $940 million. This represents a recovery from a steep decline that saw its TVL drop by more than 50% from highs of $1.08 billion in May 2024 to approximately $516 million in early August, according to DeFiLlama data. Despite this recovery, Sui’s TVL remains smaller compared to Ethereum, which dominates with over 65% of the total value locked across all chains.
The native Sui token, SUI, plays a crucial role in the blockchain’s proof-of-stake mechanism, supporting rewards, gas fee payments, network utility, and governance. However, the token has faced challenges, with its price falling from a peak of $1.10 in mid-August to around $0.91 at the time of writing. Despite a recent 10% increase over the past week, the token is currently down 1.5% in the last 24 hours.
Grayscale’s launch of the Sui Trust and its inclusion of Sui among its investment products highlight the growing significance of blockchain technologies and the increasing interest in diverse cryptocurrency assets.
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