Grayscale Investments Launches Sui Staking ETF (GSUI) on NYSE Arca

• The Sui ETF (GSUI) began trading on NYSE Arca on February 18 and charges a 0.35% fee, with a three-month waiver or until AUM reaches $1 billion.
• The fund holds SUI and stakes tokens to earn rewards, even as a 43.35 million token unlock is scheduled for March 1, 2026.

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Grayscale Investments has launched the Grayscale Sui Staking ETF, which began trading on NYSE Arca on February 18 under the ticker GSUI. It offers regulated exchange-traded exposure to the blockchain’s native token.

Grayscale filed Form 8-A for the trust and submitted related materials to commence trading on NYSE Arca. The exchange then cleared the shares for listing and trading.

GSUI carries a 0.35% annual management fee. Grayscale said the fee is waived for the first three months of trading. The waiver also ends if assets reach $1 billion before then. After the waiver, the 0.35% fee applies.

The trust is designed to hold SUI and stake a portion of those tokens, which earn staking rewards. The fund’s holdings can therefore include both purchased token and the staking rewards. The ETF tracks the token’s performance and reflects staking yield in its holdings. It also sets a daily net asset value using an index-based U.S. dollar reference rate for SUI. 

Market Participants and SUI Near-term Supply Events

For fund operations, Bank of New York Mellon is the administrator and transfer agent. Coinbase acts as a prime broker for trading and financing activity, while Coinbase Custody Trust Company is listed as the custodian for the trust’s digital assets.

The registration statement identifies Jane Street Capital and Virtu Americas as authorized participants. It also lists liquidity providers tied to Jane Street and Virtu, as well as Galaxy Digital Trading Cayman and Flowdesk. These firms will support the creation, redemption, and secondary market liquidity for the new ETF.

SUI traded at $0.9652 at press time with a slight price rise as GSUI started trading on Wednesday. Market activity also reflected wider moves in crypto ahead of scheduled macro releases. 

Supply calendars show a scheduled SUI token unlock on March 1, 2026, for 43.35 million tokens.

In separate remarks, Sui executives described stronger institutional interest in crypto markets. At Consensus Hong Kong, Mysten Labs CEO Evan Cheng and Sui Group Holdings CIO Stephen Mackintosh pointed to tokenization and instant settlement as the focus areas for these investors. They also referenced “agentic commerce” as an emerging on-chain use case. The executives said demand increased following the enactment of the Genius Act, despite recent market volatility.

Earlier this month, Coinbase said it would adopt the Sui Network token standard across its platform, adding it alongside Ethereum and Solana. CNF reported that Coinbase Institutional will expand custody and treasury management services to the Sui Foundation as the partnership deepens.

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