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Grayscale’s Litecoin-Based Asset Sees Wild Premium Swings

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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 trade at $54.01. The 2 costs appear shut, though every share of LTCN equals simply 0.094 LTC, in accordance with Grayscale’s web site. 

Shopping for roughly 10.64 LTCN equates to possession of 1 LTC. At present costs, nonetheless, shopping for 1 LTC price of LTCN prices about $574 — over $500 greater than the value of 1 LTC bought on the crypto markets. Aug. 20 yielded an excellent increased 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 Business Regulatory Authority, or FINRA. Grayscale originally made LTCN out there in March 2018, however just for accredited contributors. 

Grayscale’s time-tested Bitcoin (BTC) buying and selling product, referred to as GBTC, typically holds a notable premium over its underlying spot asset, however not one as unusually excessive as seen in LTCN.


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