Grayscale Seeks NYSE Arca Listing for Litecoin Trust

Grayscale has filed an amendment to move its Litecoin Trust closer to an ETF structure. The proposed change involves renaming the trust Grayscale Litecoin Trust ETF while retaining the LTCN ticker.

The filing, made on September 11th, seeks to increase ease of use for investors seeking exposure to Litecoin (LTC) via a national exchange. If approved, the change will enable the creation of new shares and redemption of existing ones in baskets.

This could reduce price gaps between LTCN and the value of its Litecoin holdings, resulting in improved liquidity. As of June 30th, the trust assets stood at $82.3 million with 1.97 million Litecoin and 24.25 million shares outstanding.

The proposed NYSE Arca move aims to change how investors trade LTCN after its long OTC history, where it traded significantly away from its underlying value. At one point, it reached a premium of 5,893%, while at another point, it was discounted by 67%.