Company: GSUI
Filing Date: 2025-12-05
Form Type: S-1
Source: 0001193125-25-309828
Chunk: 129

Company: Grayscale Sui Trust (SUI)
Filing Date: 2025-12-05
Form: S-1
Chunk 129
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 on the date of receipt of a notification of a creation but does not issue Shares until the requisite amount of SUI is received. At this time, the Trust is not accepting redemption requests from shareholders. Subject to receipt of regulatory approval from the SEC and approval by the Sponsor in its sole discretion, the Trust may in the future operate a redemption program. As of December 31, 2024, the Trust had a net closing balance with a value of $12,725,485, based on the Index Price (non-GAAP methodology). As of December 31, 2024, the Trust had a total market value of $12,634,588, based on the Digital Asset Market price of SUI on the Trust’s principal market (Coinbase). Historical NAV and SUI Prices As movements in the price of SUI will directly affect the price of the Shares, investors should understand recent movements in the price of SUI. Investors, however, should also be aware that past movements in the SUI price are not indicators of future movements. Movements may be influenced by various factors, including, but not limited to, government regulation, security breaches experienced by service providers, as well as political and economic uncertainties around the world. Investing in the Shares does not insulate the investor from certain risks, including price volatility. The following chart illustrates the movement in the Trust’s NAV per Share (non-GAAP) vs the Index Price (non-GAAP) and the Trust’s Principal Market NAV per Share from August 1, 2024 (the commencement of the Trust’s operations) to September 30, 2025:

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For more information on the determination of the Trust’s NAV, see “Business —Valuation of SUI and Determination of NAV.” The following table illustrates the movements in the Index Price of SUI, as reported on the Trust’s principal market, from August 1, 2024 (the commencement of the Trust’s operations) to September 30, 2025. During such period, the price of SUI has ranged from $0.53 to $5.23, with the straight average being $2.95 through September 30, 2025. The Sponsor has not observed a material difference between the Index Price and average prices from the Constituent Trading Platforms individually or as a group.

| Period                                                                            |     | Average |      |     | High        
 Index Price |      |     | Date      |     | Low         
 Index Price |