Grayscale didn’t dump massive stakes of XRP and XLM – spokesperson

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According to Cointelegraph, A Grayscale spokesman confirmed that the fund manager would not dump the huge stakes of XRP and XLM.

According to the investment firm, the Bybt data showing the major liquidation of XRP and Stellar Lumen (XLM) by Grayscale Investments earlier this week was false.

On Wednesday, the public Bybt data collection indicated that Grayscale Investments decreased its allocation to XRP by nearly 9.19 million units and that the Fund also reduced its XLM assets by more than 9.74 million units. According to Bybt results, the nett shift in holdings occurred more than 24 hours on Tuesday.

Cointelegraph obtained the details prior to the publication by Grayscale of its daily properties in the management report for Tuesday, and noted in an article that Grayscale had reportedly sold large volumes of XRP and XLM.

The efforts to reach Grayscale on Wednesday were ineffective. However, a representative for Grayscale told Cointelegraph on Thursday:

“None of the Grayscale investment products operate a redemption program. The net holdings of our investment products only change as a result of inflows from the private placement, price of the underlying assets and accrued management fee.”

“Statements about large sales of underlying assets by any of our investment products are false and inaccurate. Any perceived large decrease in the USD value of Grayscale XRP Trust would have been a result of a decrease in the USD price of XRP.”

Bybt’s data feed also reveals a strong outflow of XRP and XLM from Grayscale over the past seven days, both in terms of AUM and individual XRP and XLM units carried. These figures appeared in the column “24H Change” on Wednesday.

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Bybt data still shows a large decline in Grayscale’s XRP and XLM holdings

The Grayscale AUM update for Wednesday was published Thursday. It reads:

Grayscale’s official AUM report for Wednesday

Cointelegraph

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