Grayscale Stellar Lumens Trust (XLM) Files Q1 2025 10-Q

TL;DR

**XLM 10-Q FILED: Grayscale Stellar Lumens Trust reports Q1 2025 financials. Check holdings & performance.**

AI Summary

Grayscale Stellar Lumens Trust (XLM) filed its 10-Q for the period ending December 31, 2024. The filing details the trust's financial position and operations, including its investment in Stellar Lumens. The trust is incorporated in Delaware and its fiscal year ends on September 30. The filing was made on February 10, 2025.

Why It Matters

This filing provides investors with an update on the Grayscale Stellar Lumens Trust's performance and holdings, crucial for understanding the trust's value and future prospects.

Risk Assessment

Risk Level: medium — The value of Stellar Lumens is subject to significant volatility and regulatory uncertainty, impacting the trust's performance.

Key Numbers

• 20241231 — Period End Date (The 10-Q covers financial information up to this date.)
• 20250210 — Filing Date (The date the 10-Q was officially submitted to the SEC.)

Key Players & Entities

• Grayscale Stellar Lumens Trust (XLM) (company) — Filer of the 10-Q
• Stellar Lumens (company) — Underlying asset of the trust
• Delaware (location) — State of incorporation
• February 10, 2025 (date) — Filing date
• December 31, 2024 (date) — Period end date for the 10-Q

FAQ

Filing Documents

• gxlm-20241231.htm (10-Q) — 916KB
• gxlm-ex31_1.htm (EX-31.1) — 24KB
• gxlm-ex31_2.htm (EX-31.2) — 23KB
• gxlm-ex32_1.htm (EX-32.1) — 8KB
• gxlm-ex32_2.htm (EX-32.2) — 7KB
• img53556858_0.jpg (GRAPHIC) — 850KB
• img53556858_1.jpg (GRAPHIC) — 681KB
• img53556858_2.jpg (GRAPHIC) — 574KB
• 0000950170-25-017071.txt ( ) — 8345KB
• gxlm-20241231.xsd (EX-101.SCH) — 318KB
• gxlm-20241231_htm.xml (XML) — 450KB

Forward-Looking Statements

Forward-Looking Statements 3 Industry and Market Data 3

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION Item 1.

Financial Statements (Unaudited)

Financial Statements (Unaudited) 4 4 Schedules of Investment at December 31, 2024 and September 30, 2024 5 6 7 Notes to the Unaudited Financial Statements 8 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 16 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 24 Item 4.

Controls and Procedures

Controls and Procedures 24

– OTHER INFORMATION

PART II – OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 25 Item 1A.

Risk Factors

Risk Factors 25 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 25 Item 3. Defaults Upon Senior Securities 26 Item 4. Mine Safety Disclosures 26 Item 5. Other Information 26 Item 6. Exhibits 26 GLOSSARY OF DEFINED TERMS 27

SIGNATURES

SIGNATURES 31 2 Forw ard-Looking Statements This Quarterly Report on Form 10-Q contains "forward-looking statements" with respect to the financial conditions, results of operations, plans, objectives, future performance and business of Grayscale Stellar Lumens Trust (XLM) (the "Trust"). Statements preceded by, followed by or that include words such as "may," "might," "will," "should," "expect," "plan," "anticipate," "believe," "estimate," "predict," "potential" or "continue," the negative of these terms and other similar expressions are intended to identify some of the forward-looking statements. All statements (other than statements of historical fact) included in this Quarterly Report that address activities, events or developments that will or may occur in the future, including such matters as changes in market prices and conditions, the Trust's operations, the plans of Grayscale Investments, LLC ("GSI"), the sponsor of the Trust before January 1, 2025, Grayscale Operating, LLC ("GSO"), the co-sponsor of the Trust from January 1, 2025 to May 3, 2025, and Grayscale Investments Sponsors, LLC ("GSIS"), the co-sponsor of the Trust from January 1, 2025 to May 3, 2025 and the sole remaining sponsor thereafter (each of GSI, GSO and GSIS, the "Sponsor", as the context may require, and GSO and GSIS, together, the "Co-Sponsors"), and references to the Trust's future success and other similar matters are forward-looking statements. These statements are only predictions. Actual events or results may differ materially from such statements. These statements are based upon certain assumptions and analyses the Sponsor made based on its perception of historical trends, current conditions and expected future developments, as well as other factors appropriate in the circumstances. Whether or not actual results and developments will conform to the Sponsor's expectations and predictions, however, is subject to a number of risks and uncertainties, including, but not limited to

– FINANCI AL INFORMATION

PART I – FINANCI AL INFORMATION:

Financial St atements (Unaudited)

Item 1. Financial St atements (Unaudited) GRAYSCALE STELLAR LUMENS TRUST (XLM) ( Amounts in thousands, except Share and per Share amounts) December 31, 2024 September 30, 2024 Assets: Investment in XLM, at fair value (cost $ 23,618 and $ 21,909 as of December 31, 2024 and September 30, 2024, respectively) $ 39,390 $ 10,574 Total assets $ 39,390 $ 10,574 Liabilities: Sponsor's Fee payable, related party $ - $ - Total liabilities - - Net assets $ 39,390 $ 10,574 Shares issued and outstanding, no par value ( unlimited Shares authorized) 1,384,900 1,224,400 Principal market net asset value per Share $ 28.44 $ 8.64 See accompanying notes to the unaudited financial statements. 4 GRAYSCALE STELLAR LUMENS TRUST (XLM) SCHEDULES OF INVESTMENT (UNAUDITED) ( Amounts in thousands, except quantity of XLM and percentages) December 31, 2024 Quantity of XLM Cost Fair Value % of Net Assets Investment in XLM 118,986,745.3227980 $ 23,618 $ 39,390 100 % Net assets $ 23,618 $ 39,390 100 % September 30, 2024 Quantity of XLM Cost Fair Value % of Net Assets Investment in XLM 105,860,211.4551950 $ 21,909 $ 10,574 100 % Net assets $ 21,909 $ 10,574 100 % See accompanying notes to the unaudited financial statements. 5 GRAYSCALE STELLAR LUMENS TRUST (XLM) ( Amounts in thousands) Three Months Ended December 31, 2024 2023 Investment income: Investment income $ - $ - Expenses: Sponsor's Fee, related party 186 55 Net investment loss ( 186 ) ( 55 ) Net realized and unrealized gain from: Net realized gain (loss) on investment in XLM 42 ( 61 ) Net change in unrealized appreciation on investment in XLM 27,107 1,253 Net realized and unrealized gain on investment 27,149 1,192 Net increas

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View this 10-Q filing on SEC EDGAR