- Grayscale’s Sui Trust began trading on OTCQX under the ticker GSUI, offering regulated exposure to the Sui network.
- GSUI isn’t an ETP yet because Sui does not currently meet SEC Generic Listing Standards.
- Despite SUI’s recent price dip, Sui is expanding its economy with new infrastructure like USDsui.
Grayscale just added another piece to its expanding lineup of institutional crypto products. The firm’s Grayscale Sui Trust (GSUI) has officially qualified to trade on the OTCQX Best Market, one of the highest tiers of over-the-counter trading in the U.S. Starting November 21, GSUI gives investors a way to gain exposure to the Sui network without actually holding the token itself — a big deal for institutions that prefer compliance, custody protection, and a cleaner reporting structure.
OTCQX offers companies a cheaper, easier way to reach U.S. capital markets, thanks to simplified listing rules and lighter operational overhead. But that doesn’t mean it’s a free pass; issuers still need strong financials, governance, transparency, and tight regulatory alignment to get listed. Grayscale clearing that bar signals confidence on both sides.
Why GSUI isn’t an ETP yet
One question popped up quickly: Why didn’t Grayscale convert GSUI into an exchange-traded product already?
Craig Salm, Grayscale’s Chief Legal Officer, addressed it bluntly — Sui doesn’t yet meet the SEC’s new Generic Listing Standards for commodity-based trusts. Once it does, Grayscale plans to convert GSUI to an ETP, just as it did with products tied to Bitcoin, Ethereum, and other digital assets.
Rayhaneh Sharif-Askary, Head of Product & Research, also praised Sui’s technical progress, saying Grayscale wants to give investors access to “this next generation of innovation” as the network keeps pushing boundaries in scalability and performance.
SUI price dips as the Trust goes live
GSUI’s debut happened during a shaky stretch for Sui’s price. At the time of the announcement, SUI traded around $1.47, down roughly 9% in 24 hours — part of a broader market pullback that dragged total crypto capitalization to $2.92 trillion.
Even so, the Sui ecosystem has been busy.
On November 12, the network launched USDsui, its own native stablecoin built via Bridge’s Open Issuance platform. This marks a shift away from relying on external issuers like Circle or Tether, giving the Sui protocol its own core dollar infrastructure.
Meanwhile, the RSI hovering in overbought territory suggests SUI may be gearing up for a trend reversal — though with the current volatility, traders are being careful not to call it too early.
Grayscale expands its crypto footprint
GSUI isn’t the only big move Grayscale has been making. The firm is deep into a broader push toward institutional-grade crypto products, including:
- A planned Dogecoin ETF
- A pursuit of a public NYSE listing
- Staking added to their ETH and SOL ETFs
- A growing portfolio of regulated trust vehicles
Each step reinforces Grayscale’s role as one of the most active first-movers in regulated U.S. crypto markets.
The bottom line
GSUI’s arrival gives institutions a clean, compliant gateway into the Sui ecosystem. While Sui hasn’t yet met SEC requirements for an ETP conversion, the Trust’s OTCQX listing shows investor demand is already materializing. And with Sui expanding its on-chain economy — and Grayscale broadening its ETF and staking lineup — the stage is set for bigger developments once regulatory doors open.
