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Grayscale Investments LLC Grayscale Stellar Lumens Trust (XLM) (GXLM-7.39%) has submitted its 10-Q filing for the quarterly period ended December 31, 2024.
The filing details the financial statements for the quarter, with net assets increasing to $39,390 from $10,574 as of September 30, 2024. This increase is primarily due to the appreciation of XLM, which rose from $0.10 to $0.33 per unit.
The Trust reported a net realized and unrealized gain on investment in XLM of $27,149 for the quarter, driven by the aforementioned price appreciation.
The Trust's net increase in net assets resulting from operations was $26,963 for the quarter, after accounting for the Sponsor's Fee of $186.
The Trust's shares outstanding increased from 1,224,400 to 1,384,900 during the quarter, with the creation of 160,500 new shares.
The Trust does not currently operate a redemption program and has no intention of seeking regulatory approval to do so.
The Trust's principal market for XLM is identified as Coinbase, where the price of XLM was $0.33 as of December 31, 2024.
The Trust has not recorded any cash flow from operations and does not hold cash or cash equivalents, as expenses are paid in XLM.
The Trust's financial highlights indicate a total return of 229.17% for the quarter, with a net investment loss ratio of -2.50% relative to average net assets.
The filing also notes that the Trust is subject to various risks, including market risk and the risk of XLM being classified as a security by regulatory authorities.
Recent developments include an internal corporate reorganization, with Grayscale Operating, LLC becoming the sole sponsor of the Trust by May 3, 2025.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Grayscale Investments LLC Grayscale Stellar Lumens Trust (XLM) quarterly 10-Q report dated February 10, 2025. To report an error, please email earnings@qz.com.