Grayscale Investments has rolled out a new exchange-traded product that gives investors exposure to SUI, the native token of the Sui Network, while seeking to generate returns through network staking, according to a Wednesday announcement.
The fund, called Grayscale Sui Staking ETF, trades on NYSE Arca under the ticker GSUI. Operating as a passive vehicle, it aims to track the value of SUI held, including any SUI earned through staking once eligibility conditions are met.
The ETF charges a 0.35% annual management fee, though Grayscale is waiving this charge for the first three months or until the fund reaches $1 billion in assets under management.
Krista Lynch, Grayscale’s SVP of ETF Capital Markets, said that the launch of GSUI represents a milestone in bringing exchange-traded access to the Sui ecosystem.
For the Sui Network, the launch reinforces its increasing traction among institutional players due to its scalable infrastructure and financial backing, according to Adeniyi Abiodun, Co-Founder and Chief Product Officer at Mysten Labs.
The Sui network employs a delegated proof-of-stake system where token holders assign their holdings to validators who confirm transactions. Historical yields from this process have ranged between 1.7% and 1.9% annually after fees.
Currently, Grayscale offers more than 40 investment products encompassing over 45 digital assets. It was the first US company to introduce Bitcoin and Ethereum ETPs.
Source: https://cryptobriefing.com/grayscale-sui-staking-etf/
