{"schema_version":"secwatch.filing_event.v1","accession":"0001193125-25-220469","form_type":"8-K","ticker":"GXLM","cik":"0001761325","company_name":"Grayscale Stellar Lumens Trust (XLM)","filed_at":"2025-09-26T23:59:59+00:00","discovered_at":"2026-05-14T18:02:44.907704+00:00","generated_at":"2026-05-17T05:34:47.076032+00:00","sec_items":["8.01"],"event_type":"other_material","sentiment":"neutral","materiality_score":0.55,"calibrated_materiality_score":0.55,"confidence":"high","headline":"Grayscale Stellar Lumens Trust changes valuation index to CoinDesk XLM CCIXber Reference Rate as of Oct 1, 2025","bullets":["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."],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-25-220469","json":"https://secwatch.observer/filing/0001193125-25-220469.json","markdown":"https://secwatch.observer/filing/0001193125-25-220469.md","text":"https://secwatch.observer/filing/0001193125-25-220469.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1761325/000119312525220469/0001193125-25-220469-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1761325/000119312525220469/gxlm-20250926.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-17T05:34:47.076032+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}