# Grayscale Sui Staking ETF

> Clarifo company profile — qualitative business description generated from
> the company's filings. Financial statements, charts and ratios are
> available on Clarifo (https://www.clarifo.com/fi/companies/Grayscale Sui Staking ETF).

## Overview

Grayscale Sui Staking ETF is a U.S.-based exchange-traded trust that holds SUI, the native token of the Sui blockchain, and seeks to provide investors with exposure to that digital asset through listed shares. The trust also participates in staking arrangements, allowing it to earn additional SUI rewards through the Sui network and third-party staking providers.

## Products & services

• ETF shares backed by SUI holdings
• SUI custody and creation/redemption structure
• Staking of SUI through third-party providers
• Distribution of staking rewards in SUI or cash

- **SUI-backed ETF shares** (70%) — Listed trust shares designed to track exposure to SUI held by the trust.
- **Staking rewards** (20%) — Additional SUI earned from staking the trust's holdings through approved providers.
- **Sponsor and trust fee structure** (10%) — Fees and related deductions tied to trust administration and staking arrangements.

- ETF shares backed by SUI holdings
- SUI custody and creation/redemption structure
- Staking of SUI through third-party providers
- Distribution of staking rewards in SUI or cash

## Customers

The trust is bought by investors who want exchange-traded exposure to SUI without directly holding or managing digital tokens. Its shares are created and redeemed by authorized participants, while the economic exposure ultimately serves institutional and retail market participants accessing the product through brokerage and exchange channels.

- **Authorized Participants** (primary) — Create and redeem shares in exchange for SUI, enabling the trust structure and secondary-market liquidity.
- **Institutional investors** (primary) — Buy listed shares for regulated, exchange-traded exposure to SUI and staking economics.
- **Retail brokerage investors** (secondary) — Purchase shares on public markets to gain token exposure without self-custody or wallet management.
- **Liquidity providers and market makers** (secondary) — Support trading efficiency and arbitrage between the share price and underlying SUI value.

- Authorized Participants that create and redeem trust shares
- Institutional investors seeking listed SUI exposure
- Retail brokerage investors buying ETF shares on exchange
- Market makers and liquidity providers supporting trading
- Investors seeking staking-linked crypto exposure

## Geography

The trust is organized in the United States and its shares trade in U.S. securities markets. Its underlying asset exposure is global because SUI prices are formed across digital asset trading platforms and staking activity depends on the Sui network rather than a single country.

- U.S.-based trust structure and U.S. exchange listing
- Underlying SUI pricing reflects global digital asset markets
- Staking depends on Sui network conditions, not geography
- Custody and staking providers may operate across jurisdictions
- No foreign operations or foreign currency business exposure

## Strategy

The trust's core strategy is to provide listed exposure to SUI while maintaining a structure that can create and redeem shares efficiently through authorized participants. It also seeks to enhance token holdings through staking, which adds a yield component but introduces operational and liquidity considerations tied to the Sui protocol and third-party providers.

- **Preserve efficient NAV tracking** (short-term) — The product depends on share price alignment with underlying SUI value for investor confidence and liquidity.
- **Expand staking participation** (medium-term) — Staking can increase the trust's SUI holdings and improve product economics for shareholders.
- **Maintain market access and liquidity** (short-term) — Secondary-market trading and arbitrage are essential to the ETF-like structure.

- Maintain exchange-traded access to SUI through trust shares
- Use creations and redemptions to keep shares aligned with NAV
- Stake SUI to earn additional token rewards
- Rely on approved trading platforms for fair value pricing
- Use custody and staking partners to execute the structure

## Risks

The trust is exposed to SUI price volatility, which directly affects NAV and shareholder returns. It also faces operational risks from staking, custody, and reliance on third-party digital asset trading platforms, along with regulatory and market-structure risks common to crypto-linked investment products.

- **SUI market price volatility** [high] — The trust's asset value moves with the market price of SUI, creating direct NAV and return volatility.
- **Staking liquidity and operational risk** [high] — Staked SUI may be inaccessible during un-staking periods and depends on third-party execution.
- **Digital asset market and platform risk** [medium] — Fair value depends on trading platforms, market volume, and price consistency across venues.
- **Regulatory and legal risk** [medium] — Crypto products and staking arrangements can be affected by changing securities, commodities, and digital asset rules.

- SUI price volatility directly drives NAV and share price changes
- Staking can reduce liquidity while assets are locked for withdrawal
- Dependence on third-party custodians and staking providers
- Digital asset market integrity and platform reliability risk
- Regulatory changes could affect staking or token market access

## Accounting

The trust measures SUI at fair value using a principal-market framework and an index-based price derived from multiple digital asset trading platforms. It records creations, redemptions, staking rewards, and fee settlements in SUI on a trade-date basis, so reported results can change materially with token price movements and the timing of share activity.

- **Fair value measurement of SUI** — Can materially change reported asset value and unrealized gains/losses
- **Trade-date accounting for creations and redemptions** — Can create short-term balance sheet swings
- **Staking reward recognition** — Affects investment income and token holdings
- **Fee settlement in SUI** — Changes realized gains/losses and reduces holdings

- Fair value depends on principal market and index pricing
- SUI holdings are marked to market through unrealized gains/losses
- Creations and redemptions are recorded on trade date
- Staking rewards increase SUI holdings and affect reported income
- Sponsor and staking fees may be settled in SUI

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*Last updated: 2026-06-16T22:56:27.721040+00:00*