Grayscale files with SEC to convert LTCN trust into spot Litecoin ETF
- —The application was filed with the SEC; if approved, the ticker will change to Grayscale Litecoin Trust ETF
- —The trust's NAV shrank from $175.9 million to $82.3 million over the year
- —LTCN trades at an 8% discount to NAV due to the absence of a redemption mechanism
- —Competitor Canary Capital launched the spot Litecoin ETF LTCC in October 2025
Why it matters: The conversion would eliminate LTCN's structural discount, but Grayscale is entering the Litecoin ETF market late, which will limit capital inflows.
Source: Digital Today