On September 11th, Grayscale filed an amendment to move its Litecoin Trust closer to an ETF structure. The filing proposes renaming it Grayscale Litecoin Trust ETF while keeping the LTCN ticker. As of June 30th, the trust held $82.3 million in assets, 1.97 million Litecoin, and 24.25 million shares outstanding. The ETF structure would allow creation of new shares and redemption of existing ones in baskets, which could reduce price gaps between LTCN and the value of its Litecoin holdings. However, regulatory approval and listing on NYSE Arca are still required before the conversion can occur.
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