In a recent update, Grayscale Stellar Lumens Trust (XLM) announced an addition to the index price calculation for its shares. On Monday, the Trust's Index Provider, CoinDesk Indices, Inc., included Crypto.com in the CoinDesk Lumens Price Index (XLMX) following a scheduled quarterly review. The inclusion was due to Crypto.com meeting the liquidity requirements set by the Index Provider.
The Trust, which is under the jurisdiction of Delaware and has its principal executive offices in Stamford, Connecticut, did not remove any Constituent Trading Platforms during this review. Currently, the Index comprises Coinbase (NASDAQ:COIN), Kraken, Bitstamp, and Crypto.com. These platforms are used to derive the Index Price, which is a key factor in the valuation of the Trust's shares.
CoinDesk Indices, Inc. retains the right to modify the trading venues or alter the Index Price calculation method at any time. Scheduled quarterly reviews are part of the Index Provider's ongoing process to ensure that the Constituent Trading Platforms meet specific criteria, as detailed in the Trust’s Annual Report on Form 10-K for the year ended September 30, 2023.
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