---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-236069"
form_type: "8-K"
ticker: "GXLM"
cik: "0001761325"
company_name: "Grayscale Stellar Lumens Trust (XLM)"
filed_at: "2025-10-09T23:59:59+00:00"
generated_at: "2026-05-17T04:13:36.855524+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Grayscale Stellar Lumens Trust enters Prime Broker Agreement with Coinbase, effective upon NYSE Arca uplisting

## Summary
- Prime Broker Agreement with Coinbase entities becomes effective upon Trust's uplisting to NYSE Arca.
- Custodian Coinbase Custody holds XLM in cold storage vault balance; settlement balance may be in omnibus hot/cold wallets.
- Custodian liability capped at $100M per cold storage address; aggregate liability limited to greater of 12-month fees or $5M.
- Sponsor pays annualized fee based on monthly AUM and monthly fee for creation/redemption activity.

## SEC filing metadata
- accession: 0001193125-25-236069
- form_type: 8-K
- ticker: GXLM
- cik: 0001761325
- company_name: Grayscale Stellar Lumens Trust (XLM)
- filed_at: 2025-10-09T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 1.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1761325/000119312525236069/0001193125-25-236069-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1761325/000119312525236069/gxlm-20251003.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-236069
- JSON: https://secwatch.observer/filing/0001193125-25-236069.json
- Plain text: https://secwatch.observer/filing/0001193125-25-236069.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.