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<p class="is-style-lead">Grayscale has announced that its recently launched Sui Trust is now open to qualified investors.</p>
<p>The digital assets manager said in an announcement on Sept. 11 that the Sui (<a rel="noopener noreferrer nofollow" href="https://crypto.news/price/sui/">SUI</a>) trust was accessible to eligible accredited investors.</p>
<p>Grayscale <a rel="noopener noreferrer nofollow" href="https://crypto.news/grayscale-launches-crypto-investment-trusts-for-sui-and-tao/">launched the Sui Trust</a> alongside the Bittensor (<a rel="noopener noreferrer nofollow" href="https://crypto.news/price/bittensor/">TAO</a>) Trust in August, noting that the two funds add to its range of products offering qualified investors exposure to various cryptocurrencies.</p>
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   <p lang="en" dir="ltr">Grayscale Sui Trust is open to eligible accredited investors seeking exposure to <a href="https://twitter.com/search?q=%24SUI&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$SUI</a>, a third-generation blockchain designed to help address scalability and transaction costs.<br><br>Click below to learn more about Grayscale Sui Trust or reach out to us: <a rel="noopener noreferrer nofollow" href="https://t.co/WgCAFA7E8L" target="_blank">https://t.co/WgCAFA7E8L</a> <a rel="noopener noreferrer nofollow" href="https://t.co/gic7kJDzF6" target="_blank">pic.twitter.com/gic7kJDzF6</a></p>— Grayscale (@Grayscale) <a href="https://twitter.com/Grayscale/status/1833898477564395833?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">September 11, 2024</a>
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<p>You might also like: <a rel="noopener noreferrer nofollow" href="https://crypto.news/avax-sees-12-price-jump-as-grayscale-launches-avalanche-trust/"> AVAX sees 12% price jump as Grayscale launches Avalanche Trust </a></p>
<h2 class="wp-block-heading" id="sui-tvl-rises-to-940-million">Sui TVL rises to $940 million</h2>
<p>Sui is a smart contracts blockchain network that currently ranks as the 38th largest cryptocurrency by market capitalization, with $2.4 billion. The blockchain’s architecture is designed to boost the adoption of web3 applications, with key features including parallel execution, zkLogin, and sponsored transactions.</p>
<p>With a growing presence in the decentralized finance and real-world assets ecosystem, Sui’s total value locked (TVL) has seen a notable rebound.</p>
<p>After dipping more than 50% from highs of $1.08 billion in May 2024 to near $516 million in early August, DeFiLlama data <a href="https://defillama.com/chain/Sui" target="_blank" rel="noopener noreferrer nofollow">shows</a> Sui TVL has rebounded to above $940 million. It’s the 10<sup>th</sup> largest chain by TVL, although it pales in comparison to Ethereum (<a rel="noopener noreferrer nofollow" href="https://crypto.news/price/ethereum/">ETH</a>) that accounts for over 65% of the <a href="https://defillama.com/chains" target="_blank" rel="noopener noreferrer nofollow">total value locked on all chains</a>.</p>
<p>Meanwhile, the native Sui token is used in the blockchain network’s proof-of-stake mechanism for rewards. SUI is also used for gas fee payments, network utility, and governance. The token’s price has <a rel="noopener noreferrer nofollow" href="https://crypto.news/sui-token-faces-pressure-yet-analysts-say-it-could-flip-solana/">struggled for upside</a> since dropping from highs of $1.10 in mid-August.</p>
<p>Sui traded at around $0.91 at the time of writing, about 1.5% down in 24 hours. However, the altcoin’s price was up more than 10% over the past week.</p>
<p>You might also like: <a rel="noopener noreferrer nofollow" href="https://crypto.news/sui-token-forms-bullish-pattern-nears-a-pivotal-price/"> Sui token forms a bullish pattern, nears a pivotal price </a></p>

Grayscale’s Sui Trust opens for accredited investors

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