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Grayscale Investments has launched the Sui Trust, providing qualified investors with secure access to the SUI token. This trust allows institutional-level access, facilitating investors’ participation in the SUI ecosystem without directly holding the crypto asset.
Access Provided by Sui Trust to Investors
According to a recent statement, the Grayscale Sui Trust is now available for eligible accredited investors. The trust offers a simplified pathway to invest in SUI, a third-generation blockchain focused on scalability and transaction cost efficiency.
As of December 18, 2024, the Grayscale Sui Trust manages assets worth $12.88 million, with a net asset value per share set at $65.52. The trust’s shares are determined to reflect the SUI price after deducting fees and expenses, presenting a suitable alternative for investors instead of directly purchasing and holding the token.
Developer Activity and Ecosystem Growth
The SUI network has experienced a decrease in developer activity. Commit activity dropped from 5,300 in May 2023 to 950 in December, and the number of active main developers fell from a yearly peak of 86 to 44. Nevertheless, the Sui Trust ecosystem shows positive trends, with stablecoin volume surpassing $377 million and decentralized exchanges like Cetus, Bluefin, and DeepBook reporting strong trading volumes.
The launch of the Grayscale Sui Trust is viewed as a significant step in providing institutional-level access to SUI. Despite the challenges faced, the trust’s introduction may increase interest in the SUI ecosystem and impact SUI price trends.
However, despite the announcement of the Grayscale Sui Trust, the SUI price has declined by 12% over the last 24 hours to $4.13. The market capitalization is recorded at $12.09 billion, while trading volume has increased by 108.96% to reach $3.1 billion.
On another note, Grayscale Investments has expanded its portfolio by capitalizing on the recent drop in Litecoin (LTC) prices. According to CoinGlass data, Grayscale purchased 2,230 LTC on Thursday, raising its 30-day accumulation to over 41,100. The company’s total Litecoin assets have exceeded $220 million.
The launch of the Grayscale Sui Trust has made SUI more accessible to institutional investors. Positive developments within the ecosystem may support SUI’s long-term price performance, while the decline in developer activity poses certain risks.
