Grayscale Launches DeepBook and Walrus Trusts Amid Price Increases
Grayscale launched two new single-asset trusts on August 12, providing exposure to DEEP and WAL tokens linked to the Sui blockchain.
- The Grayscale DeepBook Trust and Grayscale Walrus Trust expand Grayscale's product offerings.
- These trusts enable accredited investors to subscribe daily to DEEP and WAL tokens.
- DeepBook functions as a central limit order book for DeFi liquidity.
- Walrus serves as a privacy-focused on-chain data layer for decentralized applications.
Following the announcements, both tokens experienced price increases:
- WAL rose approximately 7%, trading around $0.43 with a market cap of nearly $606 million.
- DEEP increased over 12%, priced at roughly $0.17 with a market cap of about $583 million.
In 2023, Grayscale faced challenges due to the collapse of FTX and had to liquidate over $800 million in assets. It has since recovered, with its Bitcoin Trust reaching equilibrium after a year of underperformance. Grayscale is pursuing further product launches in 2025, targeting a valuation of $50 billion amid favorable regulatory conditions in the U.S.