Grayscale has announced the launch of two new investment trusts dedicated to holding DEEP and WAL tokens, both of which operate within the Sui blockchain ecosystem. These single-asset investment vehicles offer accredited individual and institutional investors direct exposure to the performance of these tokens through daily private placement subscriptions. The asset management firm emphasized that approval for secondary market trading remains uncertain, maintaining consistency with their approach to other individual token offerings.
The Sui network represents a Layer 1 blockchain solution developed by Mysten Labs, emphasizing rapid processing speeds, minimal transaction costs, and streamlined smart contract functionality. The platform leverages the Move programming language alongside parallel transaction processing to manage substantial transaction volumes while maintaining reduced network congestion and enhanced security protocols. Grayscale previously established a trust for the SUI token, and these latest additions expand their coverage of essential infrastructure components within the network.
DeepBook’s Role in DeFi Infrastructure
DeepBook functions as a centralized order book mechanism built on the Sui blockchain, providing a foundational liquidity layer for decentralized finance applications. The protocol focuses on minimizing latency while optimizing price execution, enabling developers to build platforms that demand rapid, scalable, and permissionless trading capabilities. Its architecture targets institutional-quality standards, positioning it as a vital element for financial operations across the network.
Grayscale has launched two new single asset trusts DeepBook Trust and Walrus Trust giving accredited investors exposure to DEEP and WAL, the native tokens powering Sui’s core infrastructure.
DeepBook is Sui’s high speed onchain order book for DeFi liquidity, while Walrus is a… pic.twitter.com/U2CE8bOgFP
— BPP | Crypto Key Media | $SUI $DMC (@Web3BPP) August 12, 2025
Walrus Protocol’s Data Management Capabilities
The Walrus protocol serves as a comprehensive data layer capable of storing and distributing information directly on blockchain networks, with particular emphasis on scalability and privacy protection. The system supports various applications including social media platforms, gaming environments, and collaborative software tools, while processing data from multiple blockchain networks without compromising performance or security. Although integrated within Sui’s infrastructure, Walrus maintains architectural flexibility that enables compatibility across different blockchain environments.
Market data shows DEEP currently trading at $0.15 with a total market capitalization of $372 million, while WAL trades at $0.40 with a $559 million market cap. Grayscale has issued warnings regarding the inherent risks associated with these investments, noting that both projects are relatively new and may experience significant price volatility along with potential technical complications.
Market Implications
The introduction of these investment vehicles may provide traditional investors with regulated exposure to emerging Sui blockchain infrastructure tokens. However, given the nascent stage of both protocols and Grayscale’s volatility warnings, market reception will likely remain measured in the near term.
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