Grayscale Investments has launched the Sui Trust, offering qualified investors secure access to the SUI token. This trust provides institutional-level access, making it easier for investors to participate in the SUI ecosystem without directly holding the crypto asset.
Access Provided by Sui Trust to Investors
According to a recent announcement, Grayscale Sui Trust is now available to eligible accredited investors. The trust offers a simplified way to invest in SUI, a third-generation blockchain focused on scalability and transaction cost efficiency.
As of December 18, 2024, Grayscale Sui Trust manages assets worth $12.88 million and its net asset value per share is determined as $65.52. The trust’s shares are determined to reflect the price of SUI, after deducting fees and expenses. This offers investors a convenient alternative to purchasing and storing the token directly.
While SUI price has increased by over 500% this year, it runs on a decentralized blockchain and has become the ninth largest blockchain in terms of total key value (TVL) in the DeFi ecosystem. However, DeFi TVL dropped from 730 million SUI in September to 385 million in December. However, TVL growth in dollar terms continued this month due to the rise in the SUI price.
Developer Activity and Ecosystem Growth
A decrease in developer activities of the SUI network has been observed. Commit activity, which was 5,300 in May 2023, dropped to 950 in December. The number of active main developers decreased from the annual peak of 86 to 44. Despite this, the Sui Trust ecosystem shows positive trends. Stablecoin volume on the network has surpassed $377 million, and decentralized exchanges such as Cetus, Bluefin, and DeepBook are reporting strong trading volumes.
The launch of Grayscale Sui Trust is seen as a significant step in providing enterprise-level access to SUI. Despite the challenges encountered, the introduction of the trust could increase interest in the SUI ecosystem and influence SUI price trends.
However, even though the launch of Grayscale Sui Trust was announced, the SUI price fell 12% to $4.13 in the last 24 hours. While the market value was recorded as 12.09 billion dollars, the transaction volume reached 3.1 billion dollars, an increase of 108.96%.
On the other hand, Grayscale Investments latest Litecoin $108.8 (LTC) took advantage of the price drop and increased its portfolio. According to CoinGlass data, Grayscale purchased 2,230 LTC on Thursday, increasing its 30-day accumulation to over 41,100. The company’s total Litecoin assets have reached over $220 million.
The launch of Grayscale Sui Trust has made SUI more accessible to institutional investors. While positive developments in the ecosystem could support SUI’s long-term price performance, the decline in developer activity could pose some risks.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
