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Grayscale Launches $DEEP and $WAL Trusts on Sui Network
Grayscale may be one of the largest digital asset managers, so on August 12, 2025, they announced the creation of two new Sui Network investment vehicles to address some of the most important infrastructure protocols of this new chain: the Grayscale DeepBook Trust ($DEEP) and Grayscale Walrus Trust ($WAL).
Not only is this a new product launch, but is also a powerful affirmation to Sui and its fast-developing ecosystem that has achieved a total value locked (TVL) of 2.3 billion, almost 200 decentralized applications and a transaction throughput exceeding 120,000 is TPS.
The move to institutional-level support by Grayscale underscores the theme of institutional investors working beyond speculative plays in tokens, to infrastructure plays aimed at the protocol layer. Liquidity and data management layers are undoubtedly worth investing in as it is a sign of trust in the long-term utility and scalability of the Sui. Grayscale chose to target these layers. After the announcement, both tokens gained more than 12 percent to 0.17 and 7 percent to 0.43, respectively–a sign of market enthusiasm.
Protocols
DeepBook ($DEEP): An on-chain high speed on-chain order book native to Sui that can offer ultralow latency trading and competitive price execution. Its architecture enables the developers to have plug-and- play liquidity to fuel Sui DeFi and create a fundamental layer of liquidity. Walrus ($WAL): A chain agnostic, decentralized progressive, data management tool, which allows the user to handle their data in a secure way, which is programmable and scalable.
Institutional Momentum of Sui
The news comes along with the recent technical advancements of Sui, such as sub second finality of transactions, and a $140M funding round by Walrus. Key players in the financial industry like Franklin Templeton and Mill City Ventures have already expressed interest in Sui-based opportunity. Market observers say that with Grayscale support, Sui may put more pressure on Ethereum, Solana and other high-performance Layer 1s, particularly in the DeFi and data-infrastructure tracks.
Provided successful, the DeepBook and Walrus Trusts would open up new institutional liquidity and quickly drive developer adoption that positions Sui as a high-performance blockchain pioneer. The launch places Sui in a position to take a larger market share in enterprise and DeFi market in 2025 and beyond despite the volatility and regulatory challenges.