American digital asset manager Grayscale has unveiled a new exchange-traded fund (ETF) on NYSE Arca, tracking the Sui blockchain and its native token, SUI. The fund, listed under the ticker GSUI, grants investors direct access to the Sui ecosystem through a regulated marketplace.
GSUI’s Structure Brings Direct Access to Sui’s Ups and Downs
GSUI has been designed as a passive investment vehicle, holding SUI tokens directly to mirror the token’s market movements. Unlike funds that invest in multiple assets or use derivatives, GSUI remains singularly focused on SUI. This setup enables investors to experience the price shifts of the Sui blockchain first-hand, without intermediary exposure.
Originally, the GSUI fund was available only to a select group of clients. Its recent public listing on NYSE Arca now makes it widely accessible. The fund’s performance is tied exclusively to the market value of its SUI holdings, and investor returns are calculated net of management fees and expenses.
ETF Offers Staking Exposure with an Introductory Zero-Fee Model
A unique feature of this ETF is its integration with Sui’s “delegated proof-of-stake” consensus mechanism. By locking SUI tokens within the fund, GSUI contributes to the network’s security while accumulating staking rewards. However, these rewards are kept in the fund and not distributed directly to individual investors.
Grayscale has introduced an appealing fee structure for GSUI’s launch. For the first three months, or until the fund’s assets reach $1 billion, management fees are waived. After this period, the annual fee will be set at 0.35%. As of the middle of February 2026, the ETF’s SUI holdings are valued at around $3 million, reflecting the fund’s entire managed assets.
Price Volatility and Regulatory Considerations Highlight Risks
Grayscale underscores that the GSUI fund falls outside the scope of the U.S. Investment Company Act of 1940, and accordingly, does not provide the same protections as traditional ETFs. The firm warns that the fund is subject to significant price volatility, and therefore, may not be suitable for investors unable to bear the full risk of loss.
Because GSUI’s value moves in tandem with the SUI token price, investors are directly exposed to the token’s market dynamics. The SUI token has seen substantial swings over the past year, and, as is common with cryptocurrency-linked products, its performance can shift rapidly alongside broader developments in the digital asset market.
Driven by accelerating demand for regulated cryptocurrency investment solutions in traditional markets, Grayscale continues to expand its lineup of single-asset crypto products. In a recent development, the company made regulatory strides in distributing yields based on Ethereum in the U.S., marking a significant step towards structural innovation in its offerings.
