SEC Filing ⚠ 8
LTCN: 10-K · periodic report
Grayscale Litecoin Trust filed its annual report for the fiscal year ended June 30, 2026. The Trust is a passive Delaware statutory trust holding Litecoin, with shares quoted on OTCQX under LTCN; each share represented approximately 0.0812 LTC as of June 30, 2026.
A proposed public offering and NYSE Arca listing via a Form S-3 filed in September 2025 remains pending — the registration statement has not been declared effective, so shares are still offered only through private placements and trade on OTC Markets. The Trust operates no redemption program, may halt creations, and Grayscale Securities, an affiliate of the sponsor, is the sole acting Authorized Participant, leaving no arbitrage mechanism to keep the share price aligned with NAV.
The filing describes a shifting regulatory backdrop: the SEC dismissed its Binance, Coinbase and Kraken complaints between February and May 2025, issued a crypto asset interpretation on March 17, 2026, and proposed 'Regulation Crypto Asset' on August 18, 2026 with registration exemptions for offerings up to $5 million and $75 million. The GENIUS Act was signed into law in July 2025.
The Trust pays a 2.5% annual sponsor's fee in LTC, which gradually reduces the Litecoin backing each share. On the network side, the Litecoin block reward of 6.25 LTC per block is expected to halve to 3.125 LTC around July 2027.
SEC 10-K • 1mo ago