Grayscale’s Sui Staking ETF(GSUI) Set to Begin Trading on NYSE Arca

• Grayscale Investments announced that its Sui Staking ETF (GSUI) is set to begin trading on NYSE Arca.
• The product allows for gaining SUI exposure while earning staking rewards, historically ranging between 1.7% and 3.3% annually.

Grayscale Investments officially announced that it is launching its staking-enabled SUI exchange-traded fund, the Grayscale Sui Staking ETF, which will begin trading on the NYSE Arca on Wednesday through the X post under the ticker symbol of $GSUI.

Grayscale Sui Staking ETF became auto-effective with an 8-A filing with the US Securities and Exchange Commission (SEC), and also submitted a CERT filing on February 17, which signals an approval from NYSE Arca for the listing and trading of Sui ETF shares. 

As mentioned before, Bank of New York Mellon will serve as the transfer agent and the administrator of the Grayscale Sui Staking ETF. Meanwhile, Coinbase is named as the prime broker, and Coinbase Custody Trust Company as the custodian of the trust.

The product represents a significant evolution beyond traditional spot Bitcoin or Ethereum ETFs and specifically provides investors with exposure to the SUI crypto while simultaneously getting the rewards from staking those underlying assets on the Sui blockchain network. As Sui staking rewards have historically an average annual yield for SUI staking rewards that ranges from 1.7% to 3.3%.

With the new (GSUI product, Grayscale intends to draw in investors who are curious about the Sui ecosystem by giving them a way to interact with the digital asset market through a regulated exchange. Grayscale’s product selection continues to grow with the launch of $GSUI, meeting the increasing demand for cryptocurrency investment options.

SUI Price Update

The price of the SUI is at $0.9774, at the time of writing, as the price moved slightly higher intraday, but the token remains down more than 37% over the past month, and the 24-hour trading volume has fallen by over 22%, which indicates reduced participation and weak confidence among traders.

Meanwhile, the Coinglass derivatives data shows open interest standing at approximately $510.68 million, with a 0.37% increase over the past hour and a 0.01% rise over four hours. With that, SUI appears to be consolidating near the psychologically important $1 level, with declining spot activity but slightly rising derivatives. 

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