Grayscale Files for Spot ETF Conversion for Litecoin on NYSE Arca

Litecoin has reached a milestone of 15 years of continuous operation since the creation of its genesis block in 2011. Zach Pandl, head of Grayscale's research unit, noted that interest in Litecoin has been increasing. Litecoin stands out in daily payments due to its low transaction costs, with an average transaction fee of $0.003. The network's security capacity is supported by a hashrate of 2,671.43 TH/s, and the number of active addresses is 9.10 million. Grayscale has the largest product based on Litecoin, the Grayscale Litecoin Trust, with a net asset size of $97,560,938. In September, an updated application was submitted to convert this trust into a fully-fledged spot ETF to be traded on NYSE Arca. The SEC approval process is still ongoing. Grayscale's product serves as an important bridge for institutional investors to access Litecoin. The 15th anniversary of Litecoin is seen as part of the integration process into traditional market infrastructure.