Bybt’s data apparently showing a massive liquidation of XRP and Stellar Lumen (XLM) by Grayscale Investments earlier this week is inaccurate, according to the investment firm.
On Wednesday, a public Bybt dataset suggested that Grayscale Investments reduced its exposure to XRP by about 9.19 million units and that the fund also cut its holdings in XLM by more than 9.74 million units. According to data from Bybt, the net change in holdings occurred in more than 24 hours on Tuesday.
Cointelegraph accessed the data before Grayscale released its daily assets under the management report for Tuesday and noted in an article that Grayscale had sold significant amounts of XRP and XLM.
Efforts to reach the gray scale on Wednesday were unsuccessful. However, on Thursday, a gray-scale spokesman told Cointelegraph:
“None of the gray-scale investment products operate a bailout program. The net holdings of our investment products change only as a result of inflows from private placement, the price of the underlying assets and the cumulative management fee. “
“Statements about large sales of underlying assets by any of our investment products are false and inaccurate. Any large perceived decrease in the dollar value of the XRP Trust in shades of gray would have been the result of a decrease in the dollar price of the XRP. “
The Bybt data feed still shows a large output of XRP and XLM from the gray scale in the last seven days, both in terms of AUM and in actual XRP and XLM units maintained. These numbers appeared in the “Change 24H” column on Wednesday.
The grayscale AUM report for Wednesday was released on Thursday. this read:
Attempts to contact Bybt produced no response.