Company: GSUI
Filing Date: 2025-12-05
Form Type: S-1
Source: 0001193125-25-309828
Chunk: 270

Company: Grayscale Sui Trust (SUI)
Filing Date: 2025-12-05
Form: S-1
Chunk 270
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 |   |                                                                            94,100 |   |
| Net increase in Shares                                                                 |     |   |                                     - |   |     |   |                                                                            94,100 |   |     |   |                                8,600 |   |     |   |                                                                            94,100 |   |
| Shares outstanding at end of period                                                    |     |   |                               212,700 |   |     |   |                                                                            94,100 |   |     |   |                              212,700 |   |     |   |                                                                            94,100 |   |

See accompanying notes to the unaudited financial statements.

<div align='center'>F-5

GRAYSCALE SUI TRUST (SUI)

NOTES TO UNAUDITED FINANCIAL STATEMENTS</div>

1. Organization

Grayscale Sui Trust (SUI) (the “Trust”) is a Delaware Statutory Trust that was formed on April 30, 2024 and commenced operations on August 1, 2024. In general, the Trust holds SUI (“SUI”) and, from time to time, issues common units of fractional undivided beneficial interest (“Shares”) (in minimum baskets of 100 Shares, referred to as “Baskets”) in exchange for SUI. The redemption of Shares is not currently contemplated and the Trust does not currently operate a redemption program. Subject to receipt of regulatory approval and approval by the Sponsor in its sole discretion, the Trust may in the future operate a redemption program. The Trust currently has no intention of seeking regulatory approval to operate an ongoing redemption program. The Trust’s investment objective is for the value of the Shares (based on SUI per Share) to reflect the value of the SUI held by the Trust, less the Trust’s expenses and other liabilities.

Grayscale Investments, LLC (“GSI”) was the sponsor of the Trust before January 1, 2025, Grayscale Operating, LLC (“GSO”) was the co-sponsor of the Trust from January 1, 2025 to May 3, 2025, and Grayscale Investments Sponsors, LLC (“GSIS”, or the “Sponsor”) was the co-sponsor of the Trust from January 1, 2025 to May 3, 2025 and is the sole remaining sponsor thereafter. GSI was, and each of GSO and GSIS are a consolidated subsidiary of Digital Currency Group, Inc. (“DCG”). The Sponsor is responsible for the day