Grayscale Keeps Choosing Sui. Here’s Why

Main Takeaways:

• Rayhaneh Sharif-Askary, Head of Product and Research at Grayscale Investments, joined Mysten Labs co-founder Adeniyi Abiodun to discuss her firm’s four Sui-focused vehicles, and explain why Grayscale’s conviction keeps growing
• Grayscale’s GSUI gives investors staked SUI exposure, including potential staking rewards, directly from a brokerage or retirement account, no wallet or private keys required.
• Capital markets are worth hundreds of trillions of dollars. Less than 0.01% is onchain. Grayscale sees the infrastructure layer as the long-term opportunity, and Sui as the architecture to support what comes next.

Overview

Grayscale Investments recently launched GSUI, the Grayscale Sui Staking ETF, now trading on NYSE Arca. It’s a staking exchange-traded product that gives investors exposure to SUI, including potential staking rewards, through a traditional brokerage account.

It’s also Grayscale’s fourth Sui-focused product, following earlier vehicles tied to SUI, DEEP (DeepBook, Sui’s native liquidity layer), and WAL (Walrus, a decentralized storage network developed by Mysten Labs). 

Adeniyi Abiodun, co-founder and Chief Product Officer at Mysten Labs (the original contributor to Sui), sat down with Rayhaneh Sharif-Askary (Ray), Managing Director and Head of Product and Research at Grayscale Investments, to discuss GSUI, and Grayscale’s expanding Sui lineup.

How Grayscale’s Sui Conviction Grew

Grayscale’s first Sui product was a private placement in 2024. DEEP and WAL followed in 2025. GSUI launched in 2026. Each expansion reflects a thesis that has grown more specific over time.

"Our conviction in Sui has deepened as the network has matured," Ray said. "What began as interest in a next-generation Layer 1 has evolved into recognition of a broader ecosystem taking shape around it."

She pointed to DeepBook strengthening onchain liquidity infrastructure and Walrus addressing decentralized data management as examples of foundational layers forming around the network.

"Expanding our Sui-focused product lineup reflects conviction in an ecosystem that’s increasingly built for real-world use, regardless of market cycles," Ray said.

What Makes Sui Different

When asked what differentiates Sui from other Layer-1 blockchains, Ray identified three things: technical architecture and performance, user experience, and the team behind it.

"We like that Sui was built with performance and scale in mind from day one, and Mysten Labs has taken really meaningful strides in abstracting away the frictions associated with using blockchains," she said. "And that becomes very important when you're evaluating whether infrastructure can support actual financial and commercial activity."

For Grayscale, those qualities matter specifically because of where the industry is heading. As more financial activity moves onchain, the performance and usability demands on the underlying infrastructure increase significantly.

How GSUI Works, And Why It Matters

GSUI is a staking exchange-traded product listed on NYSE Arca. It holds SUI directly, stakes those holdings, and reflects staking rewards in the fund's net asset value, so investors don’t need to manage wallets, private keys, or staking mechanics themselves.

As Ray put it: “If you have a brokerage account or a retirement account, now you can get staked Sui exposure next to your Apple stock or your Amazon stock.”

That structure opens access to investor segments that couldn’t easily participate before.

The Bigger Picture

The conversation turned to where institutions are heading more broadly. Ray pointed to major firms across financial services, including JP Morgan, Goldman Sachs, Visa, and Mastercard, as already building on or integrating with blockchain infrastructure.

“Bringing capital markets onchain is an opportunity that is worth hundreds of trillions of dollars,” she said. “And when you look at the numbers, we’re really in the first inning with only 0.01% of these assets onchain today.”

That framing positions Sui not just as a trading asset, but as infrastructure capable of powering real financial activity as capital markets increasingly move onchain. 

Watch the full conversation between Adeniyi and Ray here.

Note: This content is for general educational and informational purposes only and should not be construed or relied upon as an endorsement or recommendation to buy, sell, or hold any asset, investment or financial product and does not constitute financial, legal, or tax advice.