Grayscale files updated SEC application to convert Litecoin Trust into an ETF
- —Grayscale filed Amendment No.1 to Form S-3 to convert LTCN into an ETF on NYSE Arca
- —The trust's NAV fell from $175.9 million at the end of June 2025 to $82.3 million at the end of June 2026
- —NAV per share declined from $7.25 to $3.39; on September 9 the shares traded at an 8% discount
- —Canary Capital already launched the spot Litecoin ETF LTCC on October 28, 2025
Why it matters: Approval would open a spot LTC ETF from the largest trust issuer, but Grayscale is entering the market after competitors.
Source: CoinPost