Grayscale Investments has filed an S-3/A registration statement with the SEC to rebrand its Grayscale Litecoin Trust as the Grayscale Litecoin Trust ETF, with plans to list shares on NYSE Arca. The filing was submitted on September 11, 2026, continuing a conversion process that began in early 2025.
If approved, the trust would gain the creation and redemption mechanisms that define a proper ETF, allowing its share price to track the actual value of the Litecoin it holds.
Current Structure and Assets
The Grayscale Litecoin Trust has traded over-the-counter under the ticker LTCN since January 2018. As of June 30, 2026, the trust held approximately 24.25 million shares outstanding with a net asset value of $82.28 million, or roughly $3.39 per share on a NAV basis.
The trust currently charges a 2.5% annual sponsor fee. One notable data point from the filing is the trust's declining assets under management, which fell from over $215 million in early 2025 to approximately $82 million by mid-2026, a roughly 62% decline.
Regulatory Timeline
Grayscale first submitted a 19b-4 filing with the SEC on January 24, 2025, with an amended version following in February 2025. The SEC has extended its review timeline multiple times, with a notable deadline falling in October 2025.
To prepare for eventual approval, Grayscale has entered into a new prime brokerage agreement with Coinbase. The exchange would facilitate the creation and redemption of shares once trading begins on NYSE Arca.
Broader Market Context
A Litecoin ETF listing would expand the menu of cryptocurrency assets available to US investors through traditional brokerage accounts. Currently, spot ETFs in the US cover Bitcoin and Ethereum. Litecoin has been in operation since 2011 and is one of the longest-running cryptocurrency networks.
Grayscale has refined a conversion template through prior approvals. Its Bitcoin trust, GBTC, converted to a spot Bitcoin ETF in January 2024, and the Ethereum Trust underwent a similar process to become the Grayscale Ethereum Trust ETF.
