Grayscale Stellar Lumens Trust changes valuation index to CoinDesk XLM CCIXber Reference Rate as of Oct 1, 2025

Grayscale Stellar Lumens Trust (XLM)

Effective Oct 1, 2025, NAV will be based on CoinDesk XLM CCIXber Reference Rate, replacing CoinDesk Stellar Lumens Index (XLMX).
New index uses volume-weighted real-time price from centralized spot platforms (e.g., Crypto.com, Kraken, LMAX Digital, Bitstamp).
Constituent platforms must meet IOSCO-guided criteria including US or UK/EU/HK/SG licensure and sufficient USD/USDC liquidity.
Index algorithm includes outlier detection (+/-5% price deviation) and inactivity de-weighting to limit manipulation impact.
If index unavailable, sponsor will cascade to Coin Metrics Real-Time Rate, then principal market price, then good-faith estimate.

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