GSUI vs XRP

GSUICGrayscale Sui Trust

XRPABitwise XRP ETF

In short

GSUI Grayscale's Sui vehicle holds the token directly and can stake it, earning additional SUI for helping validate the network. Sui exposure through a brokerage ticker instead of a wallet and seed phrase.

XRP Bitwise won the naming fight: its spot fund trades under the coin's own ticker. Underneath it is plain plumbing, XRP in cold storage at Coinbase, priced off a CME CF reference rate, one all-in 0.34% fee.

Stated mandate

GSUI The Trust seeks to provide exposure to the value of SUI held by the Trust, net of operating expenses. It may also earn additional SUI by validating transactions through the SUI Network’s proof-of-stake process.

XRP The Fund holds spot XRP to give investors indirect exposure to XRP through exchange-traded shares.

Why people hold it

• GSUI Holds SUI itself inside a grantor trust, no futures or swaps in the middle. Sui exposure through a normal brokerage account instead of self-custody.
• Built to stake: the trust may earn extra SUI by validating transactions on the Sui network's proof-of-stake system, on top of the token's own price move.
• The 0.35% expense ratio lands at the median for spot crypto funds and well under SUIS, which charges 0.75% for the same token.
• Sits in the upper half of the spot crypto group on our review, helped by a durable structure and reasonable trading depth for a single-token fund.

• XRP One unitary 0.34% sponsor fee, with the sponsor covering most routine operating expenses. That undercuts Canary's XRPC (0.50%) for the same spot XRP exposure.sec.gov
• Boring by design: spot XRP only, no derivatives or leverage, held in segregated cold storage at Coinbase Custody with BNY Mellon handling administration and transfer agency.sec.gov
• NAV is struck against the CME CF XRP-Dollar Reference Rate (New York Variant), which aggregates executed trade flow from major XRP platforms instead of leaning on one venue's print.sec.gov
• Actively traded since day one, and it sits in the upper tier of US spot crypto funds on trading quality.

Worth knowing

• GSUI TSUI tracks the same token for 0.30%, five basis points less.
• One token, one network. Volatility ranks among the highest in the crypto cohort, with no diversification to soften it.
• Launched in 2024 with a small asset base, so the history is short and risk figures rest on about a year of data.

• XRP One coin, one risk. Shares follow XRP and nothing else, and single-asset crypto moves are large in both directions.
• Not the cheapest ticket on the shelf: 21Shares' TOXR carries the same spot XRP exposure at 0.30%.
• Launched in November 2025, so the trading and tracking record is short, and the fund makes no distributions.

Full GSUI profile⁠

Full XRP profile⁠