Key Takeaways
Why is listing on OTCQX important?
Oh great, another way for Wall Street to charge fees while pretending they’re “streamlining access.” OTCQX is basically the buffet line of public markets-just don’t expect them to give you the prime rib.
Why hasn’t Grayscale converted GSUI into an ETP yet?
Because the SEC is still playing 20 questions with crypto. “Is it a security? Is it a commodity? Is it a sandwich?” Meanwhile, SUI’s like, “I’m just a token, okay?!”
Grayscale, the kings of “we’ll get to it eventually,” has taken another step toward making blockchain sound like something your dad’s broker would understand. Or at least charge you for.
Grayscale Sui Trust to trade on OTCQX
The Grayscale Sui Trust (SUI) is now eligible to trade on OTCQX, which is like the “beginner’s track” for U.S. capital markets. Because nothing says “trust us” like a ticker symbol that looks like a typo (GSUI).
Starting Nov 21, GSUI will trade, letting investors bet on Sui without actually holding the token. Because who needs custody when you can just buy a trust that buys the token? 🤷♂️
OTCQX claims it’s “streamlined” and “cost-efficient.” Sure, if you define “streamlined” as “adding 20 more middlemen” and “cost-efficient” as “paying lawyers to pretend this isn’t a securities law nightmare.”
The platform promises “transparent and reliable trading access.” Like a magician’s “transparent” box. Spoiler: it’s not.
To list on OTCQX, you need “strict financial criteria” and “strong corporate governance.” Translation: “We’re not broke… yet.”
Grayscale execs weigh in
Rayhaneh Sharif-Askary, Grayscale’s product guru, said:
“As blockchain networks like Sui ‘push boundaries,’ Grayscale is proud to partner with OTC Markets to let investors chase innovation while we chase compliance.”
Craig Salm, the legal guy, added:
“SUI doesn’t meet SEC’s Generic Listing Standards. But when it does, we’ll convert GSUI to an ETP. Just like we did with Bitcoin. And Ethereum. And probably Dogecoin, eventually.”
SUI price action and more
The trust’s debut arrives as SUI’s price flails. At $1.47, it’s down 9% in 24 hours-because nothing says “confidence” like a freefall amid a $2.92T crypto market cap.
But hey, Sui’s rolling out USDsui, its own stablecoin. Finally, a stablecoin that doesn’t rely on Tether’s questionable accounting! Or does it? 🤔
The RSI is “overbought,” which in crypto jargon means “get ready to panic sell.” Classic.
Grayscale’s other expansions
While GSUI dances on OTCQX, Grayscale’s also chasing a Dogecoin ETF and a NYSE listing. Because why settle for one public market circus when you can have five? 🎪
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2025-11-21 17:30