Grayscale has announced the launch of two new trusts aimed at expanding the capabilities of the Sui ecosystem. This event has attracted investor attention and influenced the price of the SUI token.
Launch of New Grayscale Trusts
On August 12, Grayscale announced the launch of two new single-asset trusts tied to the Sui blockchain's DeepBook (DEEP) and Walrus (WAL) protocols. These funds are now available for daily subscriptions to accredited investors, indicating the company's response to the growing interest in infrastructure projects within the blockchain space.
Investor Interest and SUI Price Surge
Following the announcement, the price of the SUI token increased by 5.06%, reaching $3.87. Trading volume spiked by 32.53%, indicating heightened market activity. The interest in the new trusts also improved overall sentiment among investors in the Sui ecosystem.
Risks and Uncertainties of New Trusts
Despite the positive trend, Grayscale warns of the risks associated with the new trusts. The DEEP and WAL are relatively new, and their usage remains unproven. The company acknowledged that there is no guarantee these trusts would be authorized for secondary trading.
In conclusion, the launch of Grayscale's new trusts has added interest to the Sui ecosystem, positively impacting the price of the SUI token. However, potential investors should be aware of the associated risks.
