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Grayscale is offering accredited investors direct exposure to DEEP and WAL, the native tokens of Sui’s DeepBook and Walrus protocols
Updated Aug 12, 2025, 1:20 p.m. Published Aug 12, 2025, 1:00 p.m.
Digital asset investment platform Grayscale has launched two new single-asset trusts providing exposure to Sui protocols DeepBook and Walrus.
The Grayscale DeepBook Trust and Grayscale Walrus Trust invest solely in the native DEEP and WAL tokens, respectively.
DeepBook is a decentralized central limit order book (CLOB) built on the Sui blockchain. It serves as a foundational liquidity layer for the Sui ecosystem, meaning that it provides the underlying infrastructure for decentralized exchanges (DEXs), wallets, and other applications on Sui to facilitate token trading.
Walrus, meanwhile, is a blockchain-based data storage platform designed to host the massive wells of information driven by the proliferation of artificial intelligence (AI) tools.
The trusts are open for daily subscription via private placement to accredited investors, marking a new avenue for institutional participation in Sui’s DeFi, social and gaming use cases.
Stamford, Connecticut-based Grayscale is best known for its Bitcoin Trust (GBTC) and Ethereum equivalent (ETHE), both of which it has converted into exchange-traded funds (ETFs).
The firm has subsequently expanded its focus to more niche areas of the digital asset market to appeal to investors with an eye on a wider array of blockchain use cases.
Read more: Swiss Bank Sygnum Launches Regulated SUI Custody and Trading for Institutions
Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
Jamie Crawley
Jamie has been part of CoinDesk's news team since February 2021, focusing on breaking news, Bitcoin tech and protocols and crypto VC. He holds BTC, ETH and DOGE.
AI Boost
“AI Boost” indicates a generative text tool, typically an AI chatbot, contributed to the article. In each and every case, the article was edited, fact-checked and published by a human. Read more about CoinDesk's AI Policy.
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