Grayscale's LTCN asset, boasting publicly quoted over-the-counter shares, presently trades far above the value of Litecoin (LTC) — its underlying a
Grayscale’s LTCN asset, boasting publicly quoted over-the-counter shares, presently trades far above the value of Litecoin (LTC) — its underlying asset.
At press time, Litecoin trades at $60.62, whereas LTCN shares commerce at $54.01. The 2 costs appear shut, though every share of LTCN equals simply 0.094 LTC, in response to Grayscale’s web site.
Shopping for roughly 10.64 LTCN equates to possession of 1 LTC. At present costs, nonetheless, shopping for 1 LTC value of LTCN prices about $574 — over $500 greater than the value of 1 LTC bought on the crypto markets. Aug. 20 yielded a fair larger premium, with every share of LTCN holding a price ticket of $99.
In July 2020, Grayscale introduced its LTCN shares for public OTC citation and buying and selling, touting regulatory approval from the U.S. Monetary Trade Regulatory Authority, or FINRA. Grayscale initially made LTCN obtainable in March 2018, however just for accredited individuals.
Grayscale’s time-tested Bitcoin (BTC) buying and selling product, referred to as GBTC, usually holds a notable premium over its underlying spot asset, however not one as unusually excessive as seen in LTCN.