Grayscale has not reduced its holdings of huge amounts of XLM and XRP, and the cut-off time for statistics on the official website has changed

On December 30th, Grayscale updated its daily asset management scale on Twitter as usual, but the cut-off time for statistics on trust shares on the official website has changed, from the previous "November 30th" was changed to the earlier "August 31st", resulting in errors in the website data of a large number of crawling official website data.

According to the statistics of Rhythm, the trusts that change the deadline include Stellar (XLM) trust, ZEN trust, XRP trust, ZEC trust .

Closing time for statistical data of various trusts on Grayscale’s official website

The remaining trusts, including BTC Trust, BCH Trust, ETH Trust, ETC Trust, and LTC Trust, will update data in real time after the OTC market closes. Therefore, the reduction data is normal, and it belongs to the trust management fee that Grayscale sold in the form of tokens.

The public information disclosed by Grayscale shows that the XLM, ZEN, XRP, and ZEC trust shares held by it cannot be passed OTC market for buying and selling. Therefore, some investors believe that investors may be redeeming, which will lead to a decline in Grayscale's holdings. Therefore, Rhythm has calculated the asset management scale of all Grayscale trusts in the past month.

December, Grayscale XLM Trust AUM There has not been a huge drop. The main reason for the decline in the XRP trust asset management scale is that the price of XRP in the secondary market has fallen, and it has no direct relationship with Grayscale’s reduction of holdings. Therefore, Grayscale Trust has not carried out a large amount of reduction, and at the same time, trust investors have not carried out redemption.

Of course, the market’s worries are unreasonable, Coinbase, the largest cryptocurrency trading platform in the United States, has announced plans to suspend XRP trading on January 20, 2021 due to the US SEC lawsuit against Ripple. Since Grayscale's XRP trust cannot be traded in the OTC market, investors currently do not seem to have a good exit channel. At the same time, whether Grayscale will liquidate the XRP trust is still unknown.

On December 29, Cinneamhain Ventures partner Adam Cochran stated on Twitter that he has confirmed that the SEC is investigating at least A large project is in the stage of active investigation and has not entered the stage of litigation for the time being.

On the same day, Grayscale Trust changed the data disclosure deadlines of multiple trusts, among which the one with the closest relationship with Ripple Genus Stellar (XLM).

Stellar founder Jed MacCaleb was one of the original founders of Ripple. He chose to leave Ripple due to a huge disagreement with another founder, Chris Larsen, on the future development of Ripple. After leaving Ripple, Jed MacCaleb founded Stellar, but nearly 99% of Stellar's code originated from Ripple. When asked about the difference from Ripple, Jed MacCaleb said that Stellar is a non-profit organization, and at the same time, most of XRP is held by corporate issuers, while XLM is for public users.

According to public data, Grayscale’s XRP trust and XLM trust have not changed beyond expectations. As of press time, Rhythm is still unable to know whether Grayscale will delist the XRP trust or allow investors to redeem XRP and whether the large company that the US SEC is investigating is related to Stellar.

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