Grayscale’s Litecoin-Primarily based Asset Sees Wild Premium Swings

Grayscale’s Litecoin-Primarily based Asset Sees Wild Premium Swings

Litecoin
August 21, 2020 by admin
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Grayscale’s LTCN asset, boasting publicly quoted over-the-counter shares, at present trades far above the worth 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 keeping with Grayscale’s web site.  Shopping for
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Grayscale’s LTCN asset, boasting publicly quoted over-the-counter shares, at present trades far above the worth 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 keeping 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 worth 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 out there in March 2018, however just for accredited contributors. 

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



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