Grayscale has announced that its recently launched Sui Trust is now open to qualified investors. The digital assets manager revealed on September 11 that the Sui Trust is accessible to eligible accredited investors. This new offering was launched alongside the Bittensor Trust in August, adding to Grayscale’s range of products that provide qualified investors with exposure to various cryptocurrencies.

The Grayscale Sui Trust is designed for accredited investors seeking exposure to $SUI, a third-generation blockchain created to address scalability and transaction costs. Sui is a smart contracts blockchain network that currently ranks as the 38th largest cryptocurrency by market capitalization, with a value of $2.4 billion. The blockchain’s architecture is optimized to enhance the adoption of web3 applications, featuring parallel execution, zkLogin, and sponsored transactions.

With an increasing presence in the decentralized finance (DeFi) and real-world assets ecosystem, Sui’s total value locked (TVL) has experienced a significant rebound. After dropping more than 50% from highs of $1.08 billion in May 2024 to around $516 million in early August, Sui TVL has bounced back to over $940 million. This makes it the 10th largest chain by TVL, although it remains far behind Ethereum, which accounts for over 65% of the total value locked on all chains.

The native Sui token plays a crucial role in the blockchain network’s proof-of-stake mechanism, serving for rewards, gas fee payments, network utility, and governance. Despite its utility, the token’s price has struggled to gain upward momentum since dropping from highs of $1.10 in mid-August. At the time of writing, Sui traded at around $0.91, down about 1.5% in the last 24 hours. However, the altcoin’s price has increased more than 10% over the past week.

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