Grayscale Stellar Lumens Trust (XLM)

What Do They Do?

Issues shares in a trust holding XLM to accredited investors seeking investment exposure to the digital asset.

Who Are Their Customers?

The Trust issues shares to accredited investors in exchange for XLM and issues them in blocks to authorized participants; shares are also quoted on OTCQX.

How Are They Changing?

Since the FY2025 annual report

Jul 2, 2026 Grayscale CFO stepped down; interim co-CFOs appointed Kathryn Masci and Daniel Plourde were appointed interim co-CFOs of the sponsor; Masci also became the Trust’s principal financial and accounting officer.

Who Do They Compete With?

Competes with J.P. Morgan

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