Bybt data apparently show a massive liquidation of XRP and Stellar Lumens by Grayscale Investments earlier this week is inaccurate, according to the investment company.
On Wednesday December 30, a public Bybt dataset suggested that Grayscale Investments reduced its exposure to XRP by approximately 9.19 million units and that the fund also reduced its XLM holdings by more than 9.74 million units. According to data from Bybt, the net change in holdings occurred for 24 hours on Dec. 29.
Attempts to get in shades of gray on Wednesday were unsuccessful. On Thursday, however, a grayscale spokesman told Cointelegraph:
“None of the Grayscale investment products has a buy-back program. The net positions of our investment products change only as a result of the 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 major drop in Grayscale XRP Trust’s USD value would have been the result of a drop in XRP’s USD price. “
Bybt’s data feed continues to show a large outflow of XRP and XLM from Grayscale over the past seven days, both in terms of AUM and actual units of XRP and XLM being held. These figures appeared on Wednesday under the column “24H Change”.
The grayscale AUM report for December 30 was released Thursday. It is reading:
Attempts to contact Bybt have yielded no responses.