NEW YORK, Dec. 7, 2020 /PRNewswire/ — OTC Markets Group Inc. (OTCQX: OTCM), operator of financial markets for 11,000 U.S. and global securities, today announced Grayscale Litecoin Trust (OTCQX: LTCN), an investment vehicle that enables investors to gain access and exposure to Litecoin in the form of a security without the challenges of buying, storing, and safekeeping Litecoin directly, has qualified to trade on the OTCQX® Best Market. Grayscale Litecoin Trust upgraded to OTCQX from the Pink® market.
Grayscale Litecoin Trust begins trading today on OTCQX under the symbol “LTCN.” U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com.
The OTCQX Market provides investors with a premium U.S. public market to research and trade the shares of investor-focused companies. Graduating to the OTCQX Market marks an important milestone for companies, enabling them to demonstrate their qualifications and build visibility among U.S. investors. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance, and demonstrate compliance with applicable securities laws.
Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. acted as the company’s OTCQX sponsor.
About Grayscale Litecoin Trust
Grayscale Litecoin Trust (LTC) (“LTCN”) is an investment vehicle that enables investors to gain access and exposure to Litecoin in the form of a security without the challenges of buying, storing, and safekeeping Litecoin directly. Shares are distributed through sales in private placement transactions and become eligible to sell into the public market after a statutory one-year holding period. While an investment in the shares is not a direct investment in Litecoin, the shares are designed to provide investors with a cost-effective and convenient way to gain investment exposure to Litecoin. The shares are quoted on OTC under the ticker symbol “LTCN.” LTCN’s investment objective is for its shares (based on Litecoin per share) to reflect the value of the Litecoin held by LTCN, less LTCN’s expenses and other liabilities. To date, LTCN has not met its investment objective and the shares quoted on OTC have not reflected the value of Litecoin held by LTCN less, LTCN’s expenses and other liabilities, but have instead traded at a substantial premium over such value. For as long as the Shares trade at a substantial premium, investors who purchase Shares on OTC will pay substantially more for their Shares than investors who purchase Shares in the private placement. Litecoin per share is updated daily here: https://grayscale.co/litecoin-trust/. LTCN’s sponsor is Grayscale Investments, the world’s largest digital currency asset manager.
About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates the OTCQX® Best Market, the OTCQB® Venture Market and the Pink® Open Market for 11,000 U.S. and global securities. Through OTC Link® ATS and OTC Link ECN, we connect a diverse network of broker-dealers that provide liquidity and execution services. We enable investors to easily trade through the broker of their choice and empower companies to improve the quality of information available for investors.
To learn more about how we create better informed and more efficient markets, visit www.otcmarkets.com.
OTC Link ATS and OTC Link ECN are SEC regulated ATSs, operated by OTC Link LLC, member FINRA/SIPC.
OTC Markets Group Inc., +1 (212) 896-4428, [email protected]
SOURCE OTC Markets Group Inc.