Company: GSUI
Filing Date: 2025-12-05
Form Type: S-1
Source: 0001193125-25-309828
Chunk: 27

Company: Grayscale Sui Trust (SUI)
Filing Date: 2025-12-05
Form: S-1
Chunk 27
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 accept any Other Staking Consideration in the form of other digital assets. Furthermore, the Staking Arrangements would also require that a Staking Provider meet certain requirements in order to be selected to participate in Provider-Facilitated Staking. The Staking Provider would be the node operator and would be obligated to operate the validator through which the Trust’s SUI is staked to ensure that validation occurs. The Trust’s SUI would be staked directly from the Trust’s wallets administered by the Custodian, and the Staking Provider would perform any related validation activities. The Trust would retain control of its staked SUI because (1) the staked SUI would remain in the Trust’s wallet administered by the Custodian (rather than transferred to a wallet address controlled by the Staking Provider) and (2) the Trust (rather than the Staking Provider) would retain the ability through the Custodian to un-stake its SUI from the applicable smart contracts. Because staked SUI would remain in the Trust wallet administered by the Custodian, even when staked, the Trust’s SUI would not be commingled with the SUI of any other SUI holder in connection with Staking, such as the Staking Provider or others who stake to the Staking Provider, despite the Trust delegating its validation rights to the Staking Provider, which may be in receipt of other SUI holders’ validation rights. The Trust would not itself undertake any validation activities, and the Sponsor would not be required to perform any services. If the Sponsor causes the Trust to engage in Staking, the Sponsor anticipates that it would cause the Trust to engage in Staking with respect to all of the Trust’s SUI at all times, except as needed as further described herein. The Trust’s SUI would be un-staked (or not staked in the first instance) only under certain circumstances described in the Trust Agreement and under “Description of the Shares—Staking.” The Staking Arrangements are expected to generally be on market terms, consistent with those typically offered by leading digital asset firms that offer staking functionality. However, the Trust would negotiate certain provisions as necessary or helpful to preserve the Trust’s status as a grantor trust and the security of the Trust’s SUI, as well as to address governmental, policy or regulatory |

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|                                  | concerns. Staking would introduce a risk of loss of SUI, which may include penalties, slashing and inactivity