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GSUI on NYSE

Grayscale Sui Staking ETF

Grayscale Sui Staking ETF is an American commodity contracts brokers and dealers company based in Stamford.1 Its shares trade on NYSE under the symbol GSUI.1

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Last updated Oct 21, 2026.

Overview

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  • TickerGSUI on NYSE1
  • IndustryCommodity Contracts Brokers & Dealers1
  • HeadquartersStamford, Connecticut1
  • Incorporated inDE2
  • Business address290 Harbor Drive, 4Th Floor, Stamford, Ct 069022
  • Filer category, Emerging growth company2
  • Legal formBusiness Trust
  • Kind of organizationInvestment fund1

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Grayscale Sui Staking ETF (formerly known as Grayscale Sui Trust (SUI)) (the “Trust”) is a Delaware Statutory Trust that was formed on April 30, 2024, by the filing of the Certificate of Trust with the Delaware Secretary of State in accordance with the provisions of the Delaware Statutory Trust Act. The Trust’s purpose is to hold Sui tokens (“SUI”), which are digital assets that are created and transmitted through the operations of the peer-to-peer Sui Network, a decentralized network of computers that operates on cryptographic protocols.3 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Financial statements

Every line of the income statement as filed: the last 1 fiscal year (annual) or 6 quarters (quarterly), latest first.4

Period ending2025-12-31
Investment income$0
Sponsor's Fee, related party$234.0K
Net investment loss-$234.0K
Net realized gain on investment in SUI$35.0K
Net change in unrealized appreciation/depreciation on investment in SUI-$8.6M
Net realized and unrealized (loss) gain on investment-$8.5M
Net decrease (increase) in net assets resulting from operations-$8.8M

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Leadership

Named in SEC Form D filings

People the company listed in its private-offering notices.

  • Executive Officer of the Sponsor of the Issuer. Director of the sole managing member of the sole member of the Sponsor of the Issuer.Edward McGee named Jan 5, 20267
  • Executive Officer of the Sponsor of the Issuer. Director of the sole managing member of the sole member of the Sponsor of the Issuer.Peter Mintzberg named Jan 5, 20267
  • Chairperson of the Board of the sole managing member of the sole member of the Sponsor of the Issuer.Barry Silbert named Jan 5, 20267
  • Director of the sole managing member of the sole member of the Sponsor of the Issuer.Mark Shifke named Jan 5, 20267
  • Director of the sole managing member of the sole member of the Sponsor of the Issuer.Simon Koster named Jan 5, 20267

Former names

  • Grayscale Sui Trust (SUI)Aug 21, 2024 to Feb 17, 20262

Timeline

  1. Oct 5, 20268-K Entered a material agreement8
  2. Aug 7, 20268-K Entered a material agreement9
  3. Jul 17, 20268-K Other events10
  4. Jul 2, 20268-K Executive or director change11

Filings

47 filings to the SEC since October 2021: 1 annual reports, 2 quarterly reports, 4 major events, 3 private raises, 37 other. The latest 20:

  1. Oct 5, 2026424B3 EDGAR
  2. Oct 5, 20268-K EDGAR
  3. Aug 7, 202610-Q EDGAR
  4. Aug 7, 2026424B3 EDGAR
  5. Aug 7, 20268-K EDGAR
  6. Aug 6, 2026144 EDGAR
  7. Aug 4, 2026144 EDGAR
  8. Aug 3, 2026144 EDGAR
  9. Jul 31, 2026144 EDGAR
  10. Jul 30, 2026144 EDGAR
  11. Jul 17, 2026424B3 EDGAR
  12. Jul 17, 20268-K EDGAR
  13. Jul 2, 20268-K EDGAR
  14. May 8, 202610-Q EDGAR
  15. May 7, 2026144 EDGAR
  16. May 6, 2026144 EDGAR
  17. May 5, 2026144 EDGAR
  18. May 4, 2026144 EDGAR
  19. May 4, 2026144 EDGAR
  20. May 1, 2026144 EDGAR

The 47 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Funding

Where the company's money came from, by calendar year: private offerings filed with the SEC, federal grants, loans, contracts and other assistance from USAspending.gov, and PPP loans from the SBA. Each bar links to the records below.

Money received by year$8.0M 2024–2024
Money received by yearMoney received by year, 2024–2024: $8.0M in all. Private raises (Form D) $8.0M.$0$2.5M$5M$7.5M$10M2024 · Private raises (Form D): $8.0M2024
Figures by year
YearPrivate raises (Form D)Total
2024$8.0M$8.0M

Private raises

Private offerings the company reported to the SEC on Form D. The amount is what the latest filing says was sold so far, charted in the year of the first sale. Covers filings since Oct 1, 2021.

  1. Aug 1, 2024Raised $8 million in a private offering of securities7 Form D: 51 investors so far Form D

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
UBS Group AG2,733$27.6K0.0%+2,429
Virtu Financial LLC25,451$2570.0%−2,516

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How Grayscale Sui Staking ETF is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARGrayscale Sui Staking ETF1
  • CIK0002034012
  • Employer ID (EIN)99-66067363
  • Filer statusNon-accelerated filer an emerging growth company; a smaller reporting company; not a shell company3
  • Incorporated inDelaware3
  • Fiscal year endsDecember 311
  • Industry code (SIC)6221 Commodity Contracts Brokers & Dealers1
  • SEC reviewing officeOffice of Crypto Assets, Division of Corporation Finance1
  • Business address290 Harbor Drive, 4Th Floor, Stamford, CT 069021
  • Phone212-668-14271
  • Shares outstanding2,198,900 as of Aug 3, 20266
  • Public float$0 as of Jun 30, 20254
  • AuditorKPMG LLP, New York, New York PCAOB ID 185; no auditor attestation of internal control over financial reporting3
  • On EDGAR sinceAug 21, 20241
  • Filings47 in all: 144 (21), 424B3 (6), 8-K (4), S-1/A (3), 10-Q (2), D/A (2), EFFECT (2), 10-K (1)1
    All 14 form types

    8-A12B (1), CERT (1), D (1), POS AM (1), POS EX (1), S-1 (1)

  • Latest filingsAnnual report (10-K) Mar 24, 2026
    Quarterly report (10-Q) Aug 7, 2026
    Latest 8-K (8-K) Oct 5, 2026

Securities registered for trading

ClassSymbolExchange
Grayscale Sui Staking ETF SharesGSUINYSE Arca, Inc.

From the cover page of the 10-K filed Mar 24, 2026 (Section 12(b) of the Exchange Act).3

Risk factors and legal proceedings

The risks Grayscale Sui Staking ETF names in Item 1A of its 10-K filed Mar 24, 2026: 80 risks under these headings, as written.3

  • The risk factors below should be read in conjunction with the other information included in this Annual Report on Form 10-K, including the Trust’s financial statements and related notes thereto, and our other filings with the SEC.
  • The trading prices of many digital assets, including SUI, have experienced extreme volatility and may continue to do so. Extreme volatility in the future, including declines in the trading prices of SUI, could have a material adverse effect on the value of the Shares and the Shares could lose all or substantially all of their value.
  • Digital assets such as SUI were only introduced within the past two decades, and the medium-to-long term value of the Shares is subject to a number of factors relating to the capabilities and development of blockchain technologies and to the fundamental investment characteristics of digital assets.
  • Digital assets represent a relatively new and rapidly evolving industry, and the value of the Shares depends on the acceptance of SUI.
  • The Sui protocol was only recently conceived, and the Sui Network or its underlying technologies may not function as intended, which could have an adverse impact on the value of SUI and an investment in the Shares.
  • Smart contracts are a new technology and ongoing development may magnify initial problems, cause volatility on the networks that use smart contracts and reduce interest in them, which could have an adverse impact on the value of SUI.
  • Changes in the governance of a digital asset network or protocol may not receive sufficient support from users and validators, which may negatively affect that digital asset network’s or protocol’s ability to grow and respond to challenges.
  • Digital asset networks face significant scaling challenges and efforts to increase the volume and speed of transactions may not be successful.
  • Digital asset networks are developed by a diverse set of contributors and the perception that certain high-profile contributors will no longer contribute to the network could have an adverse effect on the market price of the related digital asset.
  • Digital assets may have concentrated ownership and large sales or distributions by holders of such digital assets, or any ability to participate in or otherwise influence a digital asset’s underlying network, could have an adverse effect on the market price of such digital asset.
  • Validators may suffer losses due to Staking, or Staking may prove unattractive to validators, which could adversely affect the Sui Network.
  • If the digital asset reward or transaction fees for recording transactions on the Sui Network are not sufficiently high to incentivize validators, or if certain jurisdictions continue to limit or otherwise regulate validating activities, validators may cease expanding validating power or demand high transaction fees, which could negatively impact the value of SUI and the value of the Shares.
The other 68 risks
  • Proof-of-stake blockchains are a relatively recent innovation, and have not been subject to as widespread use or adoption over as long of a period of time as traditional proof-of-work blockchains.
  • If a malicious actor or botnet obtains control of a sufficient amount of the validating power on the Sui Network, or otherwise obtains control over the Sui Network through its influence over core developers or otherwise, such actor or botnet could manipulate the Blockchain to adversely affect the value of the Shares or the ability of the Trust to operate.
  • If validators exit the Sui Network, it could increase the likelihood of a malicious actor obtaining control.
  • A temporary or permanent “fork” or a “clone” could adversely affect the value of the Shares.
  • In the event of a hard fork of the Sui Network, the Sponsor will, if permitted by the terms of the Trust Agreement, use its discretion to determine which network should be considered the appropriate network for the Trust’s purposes, and in doing so may adversely affect the value of the Shares.
  • In the event of a hard fork of the Sui Network, the Custodian’s operations may be interrupted or subject to additional security risks that could disrupt the Trust’s ability to process creations and redemptions of Shares or otherwise threaten the security of the Trust’s SUI holdings.
  • Any name change and any associated rebranding initiative by the core developers of SUI may not be favorably received by the digital asset community, which could negatively impact the value of SUI and the value of the Shares.
  • If the Sui Network is used to facilitate illicit activities, businesses that facilitate transactions in SUI could be at increased risk of criminal or civil lawsuits, or of having services cut off, which could negatively affect the price of SUI and the value of the Shares.
  • Recent developments in the digital asset economy have led to extreme volatility and disruption in digital asset markets, a loss of confidence in participants of the digital asset ecosystem, significant negative publicity surrounding digital assets broadly and market-wide declines in liquidity.
  • The value of the Shares relates directly to the value of SUI, the value of which may be highly volatile and subject to fluctuations due to a number of factors.
  • Due to the largely unregulated nature and lack of transparency surrounding the operations of Digital Asset Trading Platforms, they may experience fraud, market manipulation, business failures, security failures or operational problems, which may adversely affect the value of SUI and, consequently, the value of the Shares.
  • Digital Asset Trading Platforms may be exposed to front-running.
  • Digital Asset Trading Platforms may be exposed to wash-trading.
  • The Index has a limited history and a failure of the Index Price could adversely affect the value of the Shares.
  • The Index Price used to calculate the value of the Trust’s SUI may be volatile, and purchasing and selling activity in the Digital Asset Markets associated with Basket creations and redemptions may affect the Index Price and Share trading prices, adversely affecting the value of the Shares.
  • Competition from the emergence or growth of other digital assets could have a negative impact on the price of SUI and adversely affect the value of the Shares.
  • Congestion or delay on the Sui Network may delay purchases or sales of SUI by the Trust.
  • The SEC has approved generic listing standards for commodity-based trust shares and may approve other applications under Rule 19b-4 of the Exchange Act to list competing digital assets as exchange-traded products, which could reduce demand for, and the price of, SUI and adversely impact the value of the Shares.
  • Competition from central bank digital currencies (“CBDCs”) and emerging payments initiatives involving financial institutions could adversely affect the price of SUI and other digital assets.
  • Prices of SUI may be affected due to stablecoins (including Tether and USDC), the activities of stablecoin issuers and their regulatory treatment.
  • The Trust relies on third-party service providers to perform certain functions essential to the affairs of the Trust and the replacement of such service providers could pose challenges to the safekeeping of the Trust’s SUI and to the operations of the Trust.
  • The liquidity of the Shares may be affected if Authorized Participants cease to perform their obligations under the Participant Agreements or the Liquidity Engager is unable to engage Liquidity Providers.
  • The Shares may trade at a price that is at, above or below the Trust’s NAV per Share as a result of the non-concurrent trading hours between NYSE Arca and the Digital Asset Trading Platform Market.
  • Any suspension or other unavailability of the Trust’s redemption program may cause the Shares to trade at a discount to the NAV per Share.
  • Shareholders may suffer a loss on their investment if the Shares trade above or below the Trust’s NAV per Share.
  • The amount of the Trust’s assets represented by each Share will decline over time as the Trust pays the Sponsor’s Fee and Additional Trust Expenses, and as a result, the value of the Shares may decrease over time.
  • The value of the Shares may be influenced by a variety of factors unrelated to the value of SUI.
  • Shareholders do not have the protections associated with ownership of shares in an investment company registered under the Investment Company Act or the protections afforded by the CEA.
  • There is no guarantee that an active trading market for the Shares will continue to develop.
  • As the Sponsor and its management have limited history of operating investment vehicles like the Trust, their experience may be inadequate or unsuitable to manage the Trust.
  • Security threats to the Trust’s Vault Balance or Settlement Balance could result in the halting of Trust operations, including the creation and redemption of Baskets, and a loss of Trust assets or damage to the reputation of the Trust, each of which could result in a reduction in the value of the Shares.
  • SUI transactions are irrevocable and stolen or incorrectly transferred SUI may be irretrievable. As a result, any incorrectly executed SUI transactions could adversely affect the value of the Shares.
  • The lack of full insurance and shareholders’ limited rights of legal recourse against the Trust, Trustee, Sponsor, Transfer Agent and Custodial Entities expose the Trust and its shareholders to the risk of loss of the Trust’s SUI for which no person or entity is liable.
  • The Trust may be required, or the Sponsor may deem it appropriate, to terminate and liquidate at a time that is disadvantageous to shareholders.
  • The Trust Agreement includes provisions that limit shareholders’ voting rights and restrict shareholders’ right to bring a derivative action.
  • The Sponsor is solely responsible for determining the value of the NAV and NAV per Share and any errors, discontinuance or changes in such valuation calculations may have an adverse effect on the value of the Shares.
  • Extraordinary expenses resulting from unanticipated events may become payable by the Trust, adversely affecting the value of the Shares.
  • The Trust’s delivery or sale of SUI to pay expenses or other operations of the Trust could result in shareholders’ incurring tax liability without an associated distribution from the Trust.
  • The value of the Shares will be adversely affected if the Trust is required to indemnify the Sponsor, the Trustee, the Transfer Agent or the Custodian under the Trust Documents.
  • Intellectual property rights claims may adversely affect the Trust and the value of the Shares.
  • Pandemics, epidemics and other natural and man-made disasters could negatively impact the value of the Trust’s holdings and/or significantly disrupt its affairs.
  • The limited ability to facilitate in-kind creations and redemptions of Shares could have adverse consequences for the Trust.
  • Shareholders will not receive the benefits of any forks or airdrops.
  • Coinbase Global serves as the SUI custodian and prime execution agent for several competing exchange-traded SUI products, which could adversely affect the Trust’s operations and ultimately the value of the Shares.
  • Certain of the Authorized Participants engaged by the Trust may serve in a similar capacity for competing exchange-traded SUI products, which could adversely affect the arbitrage mechanism, the Trust’s operations, the performance of the Trust and ultimately the value of the Shares.
  • Shareholders that are not Authorized Participants may only purchase or sell their Shares in secondary trading markets, and the conditions associated with trading in secondary markets may adversely affect investors’ investment in the Shares.
  • The Sponsor may implement restatements, amendments or supplements to the Trust Agreement that may not necessarily align with shareholder interests
  • The Sponsor may implement restatements, amendments or supplements to the Trust Agreement that may increase risk to the Trust’s intended tax treatment
  • A single shareholder controls over a majority of the Shares representing ownership in the Trust, which could limit the ability of other shareholders to exercise voting influence or otherwise adversely impact the value of the Shares.
  • A determination that SUI or any other digital asset is or involves a transaction in a “security” may adversely affect the value of SUI and the value of the Shares, and result in potentially extraordinary, nonrecurring expenses to, or termination of, the Trust.
  • Regulatory changes or actions by the U.S. Congress or any U.S. federal or state agencies may affect the value of the Shares or restrict the use of SUI, validating activity or the operation of the Sui Network or the Digital Asset Markets in a manner that adversely affects the value of the Shares.
  • SUI’s initial manner of sale closely resembles that of certain digital assets found to be securities, and a determination that SUI is a “security” may adversely affect the value of SUI and an investment in the Shares, and result in potentially extraordinary, nonrecurring expenses to, or termination of, the Trust.
  • Competing industries may have more influence with policymakers than the digital asset industry, which could lead to the adoption of laws and regulations that are harmful to the digital asset industry.
  • Regulatory changes or other events in foreign jurisdictions may affect the value of the Shares or restrict the use of one or more digital assets, validating activity or the operation of their networks or the Digital Asset Trading Platform Market in a manner that adversely affects the value of the Shares.
  • If regulators subject an Authorized Participant, the Trust or the Sponsor to regulation as a money service business or money transmitter, this could result in extraordinary expenses to the Authorized Participant, the Trust or the Sponsor and also result in decreased liquidity for the Shares.
  • Statutory or regulatory changes or interpretations could obligate the Trust or the Sponsor to register and comply with new regulations, resulting in potentially extraordinary, nonrecurring expenses to the Trust.
  • The treatment of the Trust for U.S. federal income tax purposes is uncertain.
  • The treatment of digital assets for U.S. federal income tax purposes is uncertain.
  • Future developments regarding the treatment of digital assets for U.S. federal income tax purposes could adversely affect the value of the Shares.
  • Future developments in the treatment of digital assets for tax purposes other than U.S. federal income tax purposes could adversely affect the value of the Shares.
  • The tax treatment of SUI and transactions involving SUI for state and local tax purposes is not settled.
  • A U.S. tax-exempt shareholder may recognize “unrelated business taxable income” as a consequence of an investment in Shares.
  • Shareholders may be subject to withholding tax on Staking Consideration received as staking rewards and income derived from forks, airdrops and similar occurrences.
  • Potential conflicts of interest may arise among the Sponsor or its affiliates and the Trust. The Sponsor and its affiliates have no fiduciary duties to the Trust and its shareholders other than as provided in the Trust Agreement, which may permit them to favor their own interests to the detriment of the Trust and its shareholders.
  • DCG is a minority interest holder in Kraken, which operates one of the Digital Asset Trading Platforms included in the Index Price.
  • Shareholders cannot be assured of the Sponsor’s continued services, the discontinuance of which may be detrimental to the Trust.
  • Although the Custodian is a fiduciary with respect to the Trust’s assets, if the Custodian resigns or is removed by the Sponsor or otherwise, without replacement, it would trigger early termination of the Trust.
  • Shareholders may be adversely affected by the lack of independent advisers representing investors in the Trust.

Legal proceedings

Grayscale Operating, LLC, the former Co-Sponsor of the Trust until May 3, 2025, was a party to certain legal proceedings during the period covered by this report. Although the Trust is not a party to these proceedings, the Trust may in the future be subject to legal proceedings or disputes.

On May 19, 2025, Genesis Global Capital, LLC (“Genesis Capital”) and Genesis Asia Pacific Pte. Ltd. (“Genesis Asia”) filed a complaint in the United States Bankruptcy Court for the Southern District of New York (“SDNY Bankruptcy Court”) against Digital Currency Group, Inc. (“DCG”) and certain of its affiliates including GSO alleging that Genesis Capital made certain preferential transfers to GSI, the predecessor in interest to GSO prior to the Merger, during the preference period prior to Genesis Capital’s filing of a bankruptcy petition in SDNY Bankruptcy Court while GSI was allegedly an insider to Genesis Capital pursuant to 11 U.S.C. § 101(31). Genesis Capital seeks to avoid the alleged preferential transfers pursuant to 11 U.S.C. § 547(b), as well as recovery of property and disallowance of claims. Genesis Capital is seeking to avoid transfers to GSI, the predecessor in interest to GSO prior to the Merger, of 105 Bitcoin and 37,647.06 Ethereum Classic tokens. GSO believes this lawsuit is without merit and intends to vigorously defend against it.

As of the date of this Annual Report, the Sponsor does not expect the foregoing proceedings to have a material adverse effect on the Trust’s business, financial condition or results of operations.

The Sponsor and/or the Trust may be subject to additional legal proceedings and disputes in the future.

The opening of Item 3, Legal Proceedings.3

Sources

The numbers on this page point here. Each one links to the record it came from.

  1. 1
  2. 2
  3. 3
  4. 4
  5. 5
  6. 6
  7. 7
  8. 8
  9. 9
  10. 10
    SEC EDGAROther events
  11. 11