Original title: Grayscale did not reduce the huge amount of XLM and XRP, the official website data statistics deadline has been changed
On December 30th, Grayscale updated its daily asset management scale changes on Twitter as usual, but the deadline for statistical data on trust shares on the official website has changed, from the previous “November 30” to an earlier one “August 31st” caused errors in the website data that caused a large number of official website data to be crawled.
According to Ludong Statistics, the trusts that change the deadline include Stellar (XLM) Trust, ZEN Trust, XRP Trust, and ZEC Trust.
Deadline for statistics of each trust on Grayscale official website
The remaining trusts, including BTC trust, BCH trust, ETH trust, ETC trust, and LTC trust, will update their data in real time after the OTC market closes. Therefore, the reduction data is normal, and belongs to the trust management fee collected by Grayscale in the form of tokens.
The public information disclosed by Grayscale shows that the trust shares of XLM, ZEN, XRP, and ZEC held by it cannot be traded through the OTC market. Therefore, some investors believe that it may be the redemption by investors, which led to a decline in gray positions. Therefore, Rhythm has calculated the asset management scale of all grayscale trusts in the past month.
In December, Grayscale XLM trust asset management scale did not experience a huge drop. The main reason for the decline in the scale of XRP trust asset management is the decline in the price of the XRP secondary market, which is not directly related to the reduction of gray holdings. Therefore, Grayscale Trust did not carry out a large number of reductions, and at the same time, trust investors did not redeem it.
Of course, the market’s concerns are unreasonable. Due to the US SEC’s lawsuit against Ripple, Coinbase, the largest cryptocurrency trading platform in the US, has announced plans to suspend XRP trading on January 20, 2021. Since the Grayscale XRP Trust cannot be traded in the OTC market, it seems that investors currently do not have a better exit channel. At the same time, whether Grayscale will liquidate the XRP trust is still unknown.
On December 29, Adam Cochran, a partner of Cinneamhain Ventures, said on Twitter that he had confirmed that the SEC is actively investigating at least one major project and has not yet entered the litigation stage.
On the same day, Grayscale Trust changed the deadline for data disclosure of multiple trusts, among which Stellar (XLM) is the closest to Ripple.
Jed MacCaleb, the founder of Stellar, was one of the original founders of Ripple. He chose to leave Ripple because he had 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 comes from Ripple. When asked about the difference with Ripple, Jed MacCaleb said that Stellar is a non-profit organization, and that most of XRP is held by company issuers, while XLM is for mass users.
According to public data, Grayscale XRP Trust and XLM Trust have not undergone more than expected changes. As of press time, Ludong has not been able to know whether Grayscale will delist XRP trust or order investors to redeem XRP and whether the large companies under investigation by the US SEC are related to Stellar.
