<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/ownership" xmlns:com="http://www.sec.gov/edgar/common">
  <headerData>
    <submissionType>144</submissionType>
    <filerInfo>
      <filer>
        <filerCredentials>
          <cik>0001976415</cik>
          <ccc>XXXXXXXX</ccc>
        </filerCredentials>
      </filer>
      <liveTestFlag>LIVE</liveTestFlag>



    </filerInfo>
  </headerData>
  <formData>
    <issuerInfo>
      <issuerCik>0001761325</issuerCik>
      <issuerName>Grayscale Stellar Lumens Trust (XLM)</issuerName>
      <secFileNumber>000-56434</secFileNumber>
      <issuerAddress>
        <com:street1>290 HARBOR DRIVE</com:street1>
        <com:street2>4TH FLOOR</com:street2>
        <com:city>STAMFORD</com:city>
        <com:stateOrCountry>CT</com:stateOrCountry>
        <com:zipCode>06902</com:zipCode>
      </issuerAddress>
      <issuerContactPhone>212-473-2408</issuerContactPhone>
      <nameOfPersonForWhoseAccountTheSecuritiesAreToBeSold>Silbert Barry E.</nameOfPersonForWhoseAccountTheSecuritiesAreToBeSold>
      <relationshipsToIssuer>
        <relationshipToIssuer>10% Stockholder</relationshipToIssuer>
      </relationshipsToIssuer>
    </issuerInfo>
    <securitiesInformation>
      <securitiesClassTitle>Common</securitiesClassTitle>
      <brokerOrMarketmakerDetails>
        <name>Capital Institutional Services, Inc.</name>
        <address>
          <com:street1>1700 Pacific Avenue</com:street1>
          <com:street2>Suite 1100</com:street2>
          <com:city>Dallas</com:city>
          <com:stateOrCountry>TX</com:stateOrCountry>
          <com:zipCode>75201</com:zipCode>
        </address>
      </brokerOrMarketmakerDetails>
      <noOfUnitsSold>2445</noOfUnitsSold>
      <aggregateMarketValue>64963.65</aggregateMarketValue>
      <noOfUnitsOutstanding>1389200</noOfUnitsOutstanding>
      <approxSaleDate>11/05/2025</approxSaleDate>
      <securitiesExchangeName>OTCQX</securitiesExchangeName>
    </securitiesInformation>
    <securitiesToBeSold>
      <securitiesClassTitle>Common</securitiesClassTitle>
      <acquiredDate>05/18/2024</acquiredDate>
      <natureOfAcquisitionTransaction>Privately negotiated transaction</natureOfAcquisitionTransaction>
      <nameOfPersonfromWhomAcquired>Issuer</nameOfPersonfromWhomAcquired>
      <isGiftTransaction>N</isGiftTransaction>
      <amountOfSecuritiesAcquired>6919</amountOfSecuritiesAcquired>
      <paymentDate>05/18/2024</paymentDate>
      <natureOfPayment>Cash</natureOfPayment>
    </securitiesToBeSold>
    <nothingToReportFlagOnSecuritiesSoldInPast3Months>N</nothingToReportFlagOnSecuritiesSoldInPast3Months>
    <securitiesSoldInPast3Months>
      <sellerDetails>
        <name>PACIFIC PREMIER TRUST CUSTODIAN FBO BARRY SILBERT ROTH IRA</name>
        <address>
          <com:street1>222 Purchase St.</com:street1>
          <com:street2>#283</com:street2>
          <com:city>Rye</com:city>
          <com:stateOrCountry>NY</com:stateOrCountry>
          <com:zipCode>10580 </com:zipCode>
        </address>
      </sellerDetails>
      <securitiesClassTitle>Common</securitiesClassTitle>
      <saleDate>07/28/2025</saleDate>
      <amountOfSecuritiesSold>2200</amountOfSecuritiesSold>
      <grossProceeds>71193.00</grossProceeds>
    </securitiesSoldInPast3Months>
    <remarks>Previous sales: sold 2,200 shares between 7/28 - 8/6 for $71,193. Trade occurred through his Roth IRA account: PACIFIC PREMIER TRUST CUSTODIAN FBO BARRY SILBERT ROTH IRA</remarks>
    <noticeSignature>
      <noticeDate>11/05/2025</noticeDate>
      <signature>Barry E Silbert</signature>
    </noticeSignature>
  </formData>
</edgarSubmission>
