secwatch.observer — SEC 8-K summary
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Issuer:     Grayscale Stellar Lumens Trust (XLM) (GXLM)
CIK:        0001761325
Form:       8-K
Filed at:   2025-10-09T23:59:59+00:00
Accession:  0001193125-25-236069
Event type: other_material
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 1.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1761325/000119312525236069/0001193125-25-236069-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1761325/000119312525236069/gxlm-20251003.htm
  HTML page:      https://secwatch.observer/filing/0001193125-25-236069

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer