LTCN from Grayscale Costs Much Higher Than its Underlying Asset

The price of Grayscale Litecoin Trust is presently not stable.

Grayscale’s LTCN asset is currently priced above Litecoin over-the-counter

Litecoin can be bought now at about $60.62 but the price of LTCN shares is at $54.01. There isn’t much difference between the two but bear in mind that 1 LTCN is priced at 0.094 as can be seen on Grayscale’s website.

So, if an investor wants to have an equivalent amount of 1 LTC on LTCN, he or she has to purchase 10.64 LTCN. Going with the present price, 1 LTC can be obtained on LTCN if $574 is spent to acquire it. This means paying an extra $500 to get 1 LTC on the crypto market. In fact, the margin was wider on Aug 20 when 1 LTCN was priced at $99.

Last month, Grayscale mentioned that its LTCN shares was going to be available over-the-counter in a short while because at that time, the U.S. Financial Industry Regulatory Authority (FINRA) found it satisfactory. However, Grayscale started its LTCN since March 2018 but not everyone was able to access it.

The wide gap between LTCN and its underlying asset, LTC, is quite phenomenal. Such a wide margin is not even seen between BTC and GBTC even though people can vouch so much for GBTC having been available for a long time.

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