Grayscale Launches Sui-Based ETF Dubbed GSUI

Investment company Grayscale has officially launched a spot crypto exchange-traded fund (ETF) tracking SUI. Dubbed the Grayscale Sui Staking ETF (GSUI), the fund was launched on the U.S. stock exchange, NYSE Arca, on February 19th.

GSUI allows holders to gain indirect exposure to SUI, the native coin for the layer-1 Sui blockchain. As a blockchain network using the proof-of-stake (PoS) consensus algorithm, Sui offers notable transaction speeds and supports staking.

Grayscale Launches GSUI

In March 2025, Canary Capital became the first investment firm to file for an SUI-backed ETF with the United States Securities and Exchange Commission (SEC). Since then, a slew of companies, including Grayscale, 21Shares, and Bitwise, have applied for similar funds.

In December, 21Shares got the green light to launch a 2x leveraged ETF tracking SUI, dubbed TXXS. This was the first-ever Sui-based ETF entering the U.S. market.

Last month, Grayscale amended its S-1 filing with the SEC. This step brought it closer to securing approval from the financial agency. Fast-forward to the present, and the firm is set to launch its Sui Staking ETF on the U.S. financial market.

Unlike 21Shares’ TXXS, which focuses on derivatives trading, Grayscale’s GSUI will offer staking capabilities to holders. This way, they can support the Sui network’s security and earn staking rewards.

According to the official website, the management fee will be 0% at launch. It will remain this way for the first three months of trading or until the fund attains its first $1 billion in assets. Afterward, the fee goes to 0.35%, excluding brokerage fees and other expenses.

Grayscale taps Coinbase Custody as its digital asset custodian and Foreside Fund Services as its marketing agent.

Wen SUI’s Price Reaction?

Since Grayscale’s announcement, SUI has not experienced a notable price change. According to on-chain data from CoinMarketCap, the coin traded at $0.9607, down 1.19% in the past 24 hours.

Notably, this price drop is unsurprising, as the broader crypto market is also seeing a decline. In recent weeks, the market has struggled to remain above a $3 trillion valuation.

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