Grayscale Files to Convert Litecoin Trust into Spot ETF

Grayscale Investments has taken another step toward converting its Litecoin Trust into a spot exchange-traded fund. In an amendment filed with the U.S. Securities and Exchange Commission on September 11, Grayscale said it intends to rename the vehicle the Grayscale Litecoin Trust ETF and list its shares on NYSE Arca once the registration statement becomes effective.

The move would give LTCN holders a regulated, exchange-listed wrapper for Litecoin exposure. The S-3/A Filing Amendment No. 1 updates the plan for the Grayscale Litecoin Trust (LTC), a Delaware statutory trust sponsored by Grayscale Investments Sponsors, LLC and based in Stamford, Connecticut.

The shares currently trade over the counter on OTCQX under the ticker LTCN. The filing states that, in connection with the effectiveness of the registration statement and the listing of the shares on NYSE Arca, the sponsor intends to rename the trust the Grayscale Litecoin Trust ETF while keeping the LTCN ticker.