Fri, Aug 2, 12:38 PM (227 days ago)
Grayscale Stellar Lumens Trust (XLM) reported a net decrease in assets for the quarter ended June 30, 2024. The Trust's net assets fell from $11,592,000 to $8,723,000, driven by a significant depreciation in the value of Stellar Lumens (XLM) from $0.14 to $0.09 per unit. The Trust incurred a net investment loss of $60,000 and realized a net loss of $4,444,000 from XLM investments during the quarter. Despite new share creations contributing 14,773,734 XLM valued at $1,635,000, the overall decline in XLM prices and the Sponsor’s Fee of $60,000 led to a 25% reduction in net assets. The Trust remains highly sensitive to XLM price fluctuations, and its financial performance is closely tied to the volatile cryptocurrency market.