Overview
- Grayscale’s Sui Staking ETF (GSUI) began trading on NYSE Arca after converting from a prior trust, and Canary’s SUIS listed on Nasdaq the same day.
- Both funds hold spot SUI and participate in on-chain staking, with net rewards reflected in each fund’s net asset value.
- GSUI carries a 0.35% fee that Grayscale is waiving for three months or until assets reach $1 billion, and it is not registered under the Investment Company Act of 1940.
- Operational disclosures cite Bank of New York Mellon as administrator and Coinbase as custodian, with major market makers expected to support liquidity.
- SUI traded below $1 despite the launches, with reports of softer open interest and TVL, and roughly 43.35 million tokens are slated to unlock on March 1.