SUI Price Recovered 80.5% This Week, Will the Rally Be Sustained?

SUI price strongly recovered from $0.46 to $0.83 this week, registering an 80.5% rally. This sudden bullish turnaround can be attributed to the

Grayscale, a leading digital currency asset manager, has announced the launch of two new trusts that will track the performance of the Sui (SUI) and Bittensor (BNS) tokens.

The trusts, known as Grayscale Sui Trust and Grayscale Bittensor Trust, will begin trading on OTCQX on August 8th, under the ticker symbols GSSUI and GBNS, respectively.

According to Grayscale, the trusts are designed to provide investors with exposure to tokens that are “shaping the next generation of Web3 and the decentralized economy.”

The trusts will be passively managed and will not engage in any trading activities. The trusts’ investment objectives are to reflect the performance of the SUI and BNS tokens, respectively, net of expenses.

The trusts will invest substantially all of their assets in the SUI and BNS tokens, respectively, and will not invest in any other digital currencies, equities, bonds, commodities, currencies, or any other assets.

The trusts will be terminated ten years from the date of their initial public offering, and the proceeds will be distributed to the trust certificate holders.

However, Grayscale may extend the trusts’ terms for an additional two years if it believes that it is in the best interests of the trust certificate holders.

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