According to the investment company, Bybt data, which appears to show massive liquidation of XRP and Stellar Lumen (XLM) by Grayscale Investments earlier this week, is inaccurate.
On Wednesday, a Bybt public record indicated that Grayscale Investments reduced its exposure to XRP by approximately 9.19 million shares and that the fund reduced its XLM holdings by over 9.74 million shares. According to Bybt, the net change in stocks on Tuesday was over 24 hours.
Accessing the data before Grayscale released its daily report on assets under management on Tuesday, Cointelegraph found in an article that Grayscale reportedly had sold significant amounts of XRP and XLM.
Efforts to reach Grayscale on Wednesday were unsuccessful. On Thursday, a Grayscale spokesman told Cointelegraph:
“None of the grayscale investment products operate a take-back program. The net holdings of our investment products will only change due to inflows from the private placement, the price of the underlying assets and the accrued management fee. “” Statements about large sales of underlying assets by any of our investment products are false and inaccurate. Any perceived sharp drop in the USD value of Grayscale XRP Trust would be due to a drop in the USD price of XRP. “
Bybt’s data feed is still showing a large outflow of XRP and XLM from grayscale over the past seven days, both in terms of AUM and in terms of the XRP and XLM units actually held. These figures were published on Wednesday in the “24H Change” column.
Bybt data still shows a sharp decline in Grayscale’s XRP and XLM holdings
The grayscale AUM report for Wednesday was released on Thursday. It is reading:
Grayscale’s official AUM report for Wednesday
Attempts to contact Bybt did not return any responses.