Grayscale Stellar Lumens Trust (XLM) Files 8-K

TL;DR

XLM trust filed an 8-K on Oct 3rd, reporting material agreement entry AND termination. Check for details.

AI Summary

Grayscale Stellar Lumens Trust (XLM) filed an 8-K on October 9, 2025, reporting on events occurring on October 3, 2025. The filing indicates both the entry into and termination of a material definitive agreement, along with financial statements and exhibits. The trust, formerly known as Stellar Lumens Investment Trust, is incorporated in Delaware and its fiscal year ends on September 30.

Why It Matters

This 8-K filing signals significant corporate actions, including the execution and termination of a material agreement, which could impact the trust's operations and investors.

Risk Assessment

Risk Level: medium — The simultaneous entry and termination of a material definitive agreement suggests potential instability or significant strategic shifts within the trust.

Key Numbers

• 000-56434 — Commission File Number (Identifies the trust's SEC filing history)
• 83-6545098 — IRS Employer Identification No. (Tax identification for the trust)

Key Players & Entities

• Grayscale Stellar Lumens Trust (XLM) (company) — Registrant
• October 3, 2025 (date) — Date of earliest event reported
• October 9, 2025 (date) — Date of report
• Stellar Lumens Investment Trust (company) — Former company name
• Delaware (jurisdiction) — State of incorporation
• 290 Harbor Drive, 4th Floor, Stamford, Connecticut 06902 (address) — Principal executive offices

FAQ

Key Financial Figures

• $100 million — ress that holds XLM shall be limited to $100 million (the "Cold Storage Threshold"). The Spo

Filing Documents

• gxlm-20251003.htm (8-K) — 104KB
• gxlm-ex10_1.htm (EX-10.1) — 425KB
• gxlm-ex10_2.htm (EX-10.2) — 176KB
• gxlm-ex99_1.htm (EX-99.1) — 26KB
• 0001193125-25-236069.txt ( ) — 959KB
• gxlm-20251003.xsd (EX-101.SCH) — 28KB
• gxlm-20251003_htm.xml (XML) — 5KB

01. Entry into a Material Definitive Agreement

Item 1.01. Entry into a Material Definitive Agreement. Prime Broker Agreement On October 3, 2025, Grayscale Investments Sponsors, LLC, the sponsor (the "Sponsor"), on behalf of itself and Grayscale Stellar Lumens Trust (XLM) (the "Trust"), and Coinbase, Inc., the prime broker of the Trust ("Coinbase" or the "Prime Broker"), on behalf of itself and as agent for Coinbase Custody Trust Company, LLC ("Coinbase Custody" or the "Custodian") and Coinbase Credit, Inc. ("Coinbase Credit" and, collectively with Coinbase and Coinbase Custody, the "Coinbase Entities"), entered into the Coinbase Prime Broker Agreement, which includes the Coinbase Custody Custodial Services Agreement attached thereto as Exhibit A (the "CSA"), the Coinbase Settlement and Transfer Agreement attached thereto as Exhibit B (the "STA") and all other exhibits, addenda and supplements attached thereto (collectively with the CSA and STA, the "Prime Broker Agreement") governing the Trust's and the Sponsor's use of the custodial and prime broker services provided by the Custodian and the Prime Broker. The Prime Broker Agreement establishes the rights and responsibilities of the Custodian, the Prime Broker, the Sponsor and the Trust with respect to the Trust's XLM which is held in accounts maintained and operated by the Custodian, as a fiduciary with respect to the Trust's assets, and the Prime Broker (together with the Custodian, the "Custodial Entities") on behalf of the Trust. Although executed as of October 3, 2025, the Prime Broker Agreement shall not become effective with respect to the Trust until the date on which the shares of the Trust begin trading on NYSE Arca as shares of an exchange-traded product (the "Uplisting Date"). Coinbase Custody is currently the custodian of the Trust and is party to the Previous Custodian Agreement (as defined in Item 1.02 below). The foregoing description, together with the below description of certain terms of the Prime Broker Agreement, is a summary, does

View Full Filing

View this 8-K filing on SEC EDGAR