Grayscale Litecoin Trust is a passive investment vehicle that holds Litecoin (LTC) and issues shares (ticker: LTCN) that trade on the OTCQX marketplace. The Trust gives investors exposure to LTC price movements without requiring them to directly buy, store, or manage the cryptocurrency. As of June 30, 2025, each share represents approximately 0.0832 LTC. The Trust is structured as a passive grantor trust — it does not trade LTC or actively manage its holdings. Its only recurring expense is the sponsor's fee, which accrues daily at an annual rate of 2.5% of net asset value and is paid in LTC, causing the LTC represented by each share to decline slowly over time. The sponsor, Grayscale Investments Sponsors (a subsidiary of Digital Currency Group), earns revenue through this fee and in return covers all ordinary operating expenses. Investors can access shares through a private placement or on the secondary market. New shares are created only in 100-share baskets and are issued exclusively to authorized participants. The Trust has no redemption program, meaning there is no arbitrage mechanism to keep share prices aligned with NAV — shares have historically traded at significant premiums or discounts, ranging from a peak premium of 5,893% to an 8% discount as of June 30, 2025.