Grayscale Doubles Down on Sui: DEEP and WAL Token Trusts Fuel Infrastructure Boom

Grayscale just placed a billion-dollar bet on Sui’s future—and Wall Street barely blinked.

The crypto asset manager launched two new token trusts targeting Sui’s infrastructure layer, signaling institutional confidence in the blockchain’s tech stack. DEEP and WAL tokens now join Grayscale’s growing altcoin arsenal.

Why It Matters

Sui’s infrastructure play gets a heavyweight backer as Grayscale pivots from Bitcoin ETFs to niche crypto exposure. The move suggests institutions see long-term value in modular blockchain components—not just blue-chip tokens.

The Fine Print

No dollar figures disclosed (typical hedge fund opacity), but the timing’s telling. Coming months after Sui’s mainnet launch, this looks like a calculated infrastructure grab during a bear market lull.

Wall Street’s Crypto Conundrum

Traditional finance still can’t decide if blockchain is the future or a fringe experiment—but they’ll happily collect 2% fees either way.

Why Grayscale is betting on Sui’s protocol economy

Grayscale’s decision to launch DeepBook and Walrus Trusts reflects a calculated shift in institutional crypto strategy, with priority focused on the infrastructure enabling blockchain adoption over speculative token plays. While most asset managers focus on Layer 1 tokens, Grayscale is targeting the protocols that solve real-world bottlenecks: DeepBook for institutional-grade liquidity and Walrus for scalable on-chain data storage.

“We believe these two product launches are a seminal moment in the journey of the SUI ecosystem,” Adeniyi Abiodun, Co-Founder and CPO at Mysten Labs, said. “Since the initial foundation of Sui, the team at Mysten Labs, as well as the contributors to the network, have not rested on our laurels, as we continue to deliver crucial infrastructure to the broader blockchain ecosystem.”

The move aligns with the Sui ecosystem’s rapid growth. As of press time, DEEP and WAL ranked 113th and 110th by market capitalization at $580 million and $609 million, respectively, per CoinMarketCap data.

Both tokens saw immediate price surges following Grayscale’s announcement. DEEP jumped 12% to $0.1691, while WAL gained 7% to $0.4304, a sign that markets are responding to the validation of these protocols by a major institutional player.

Per the press release, Grayscale’s DEEP and WAL trusts are now open for daily subscriptions, but the firm has cautioned investors about risks. Both protocols are relatively new, with unproven adoption curves, and their tokens remain highly volatile. There’s also no guarantee the trusts will ever trade on secondary markets, a recurring hurdle for Grayscale’s single-asset products.