STAMFORD, Conn., Aug. 12, 2025 (GLOBE NEWSWIRE) -- Grayscale®, the world’s largest digital asset-focused investment platform, today announced the creation and launch of Grayscale® DeepBook Trust and Grayscale® Walrus Trust (the “Trusts”). The Trusts provide investors with exposure to DEEP and WAL, native tokens of the DeepBook and Walrus protocols within the Sui blockchain ecosystem.
Sui, developed by Mysten Labs, is a high-performance Layer 1 blockchain designed to deliver speed, low fees, and seamless user experiences. Its unique approach to parallel transaction processing and its use of the Move programming language, a newer and more flexible language originally developed for building smart contracts, enable more efficient and secure smart contract development. DeepBook and Walrus, two core protocols native to Sui, help bring this vision to life and expand what’s possible across decentralized finance (DeFi), social, and gaming use cases, within the Sui ecosystem.
“Grayscale DeepBook Trust and Grayscale Walrus Trust offer investors exposure to two key protocols driving innovation within the Sui ecosystem,” said Rayhaneh Sharif-Askary, Head of Product & Research at Grayscale. “DeepBook and Walrus provide infrastructure designed for high-performance on-chain liquidity and data, helping power the next wave of scalable, real-world blockchain applications.”
DeepBook is a native central limit order book built on the Sui blockchain and serves as the foundational liquidity layer for DeFi applications in the ecosystem. It offers functionality similar to established exchange platforms bringing a traditional trading infrastructure to crypto. DeepBook minimizes latency, enhances price execution, and streamlines the development of DeFi platforms. Its architecture helps enable fast, permissionless trading at scale and with levels of efficiency that meet institutional standards.1
Walrus is a global data layer for on-chain builders and is designed to address a core challenge in decentralized systems: secure, programmable, and scalable data management. The protocol enables users and developers to store and share information directly on-chain. Created for applications that demand both scalability and privacy, such as social platforms, gaming environments, and productivity tools, Walrus is a foundational component of the Sui blockchain. While data stored on Walrus can be enhanced by leveraging Sui’s underlying smart contracts, Walrus is chain-agnostic, allowing it to store data from any blockchain with the same reliability, speed, and efficiency.
Together, DeepBook and Walrus support the financial and data infrastructure essential to driving real-world adoption of the Sui ecosystem. As activity on Sui accelerates, both protocols are positioned to grow in step with the network’s expanding user and developer base.
“We believe these two product launches are a seminal moment in the journey of the Sui ecosystem. Since the initial foundation of Sui, the team at Mysten Labs, as well as the contributors to the network, have not rested on our laurels, as we continue to deliver crucial infrastructure to the broader blockchain ecosystem,” said Adeniyi Abiodun, Co-Founder and CPO at Mysten Labs. “With Grayscale® DeepBook Trust and Grayscale® Walrus Trust, investors will now have direct exposure to two core protocols within the Sui ecosystem. Through continued innovation, Sui is helping to shape the future of blockchain applications, and we believe Walrus and DeepBook will play a major role in that movement.”
The Trusts are now open for daily subscription by eligible individual and institutional accredited investors.* The Trusts function like Grayscale’s other single-asset investment trusts and are solely invested in the $DEEP and $WAL tokens, respectively, which underpin the DeepBook and Walrus protocols. For additional information regarding the seeding of the Trusts and other ways in which an investment in the Trusts might differ from an investment in Grayscale's other single-asset investment trusts, please refer to the Private Placement Memoranda relating to the Trusts.
This press release is not an offer to sell or the solicitation of an offer to buy any security in any jurisdiction where such an offer or solicitation would be illegal, nor shall there be any sale of any security in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction.*An accredited investor, as defined in Rule 501(a) of Regulation D under the Securities Act of 1933, as amended, is an individual with income over $200,000 ($300,000 with spouse) in each of the past two years, an individual with net worth over $1 million, excluding primary residence, an individual holding certain financial licenses (e.g., Series 7, 65, or 82), or an entity with over $5 million in assets or all equity owners who are accredited.
Grayscale may attempt to have shares of new products quoted on a secondary market. However, there is no guarantee that Grayscale will be successful. Although the shares of certain products have been approved for trading on a secondary market, investors in the new products should not assume that the shares will ever obtain such an approval due to a variety of factors, including questions regulators, such as the SEC, FINRA, or other regulatory bodies may have regarding such products. As a result, shareholders of such products should be prepared to bear the risk of investment in the shares indefinitely.
Private placement securities are speculative, illiquid, and entail a high level of risk, including the risk that an investor could lose their entire investment. The DeepBook and Walrus protocols were relatively recently conceived and their particular underlying technological mechanisms may not function as intended, which could have an adverse impact on the value of DEEP and WAL, respectively, and an investment in the Shares.
Extreme volatility of trading prices that many digital assets have experienced in recent periods and may continue to experience, could have a material adverse effect on the value of the Trust and the shares could lose all or substantially all of their value.
1) Whitepaper: DeepBook Token; March 28, 2024.
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