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Grayscale Litecoin Trust: the trend of the LTC asset

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Grayscale Litecoin Trust

Grayscale, an investment firm dedicated to digital currencies, has promoted its Grayscale Litecoin Trust, highlighting the similarities between LTC and the queen of cryptocurrencies, BTC.

“Litecoin was one of the earliest spinoffs of BTC, meaning the two share many similarities. And when you #GoGrayscale, you can get exposure to both. Learn about Grayscale Litecoin Trust”.

The company, which offers its crypto trusts as financial products that allow people to invest in cryptocurrencies, in an institutional fashion which means with SEC approval, has highlighted the similarities between the two historic assets.

In essence, the Grayscale Litecoin Trust is exclusively and passively invested in Litecoin, allowing investors to gain exposure to LTC in the form of a security, while avoiding the hurdles of directly purchasing, storing and holding LTC.

The Grayscale Litecoin Trust and other crypto funds

In this regard, the company had already revealed in March that it had added as many as 174,000 LTC to its Litecoin Trust, the equivalent of 80% of the total LTC mined at that time.

Not only that, with another tweet, the company also revealed today the total dollar amount invested in its funds dedicated to the crypto trust.

The total is a whopping $36.3 billion distributed in the trust funds for the following crypto assets: BTC (BTC), BTC Cash (BCH), ETH (ETH), ETH Classic (ETC), Horizen (ZEN), Litecoin (LTC), Stellar (XLM), Zcash (ZEC), Basic Attention Token (BAT), Chainlink (LINK), Decentraland (MANA), Filecoin (FIL) and Livepeer (LVP).

Litecoin (LTC): price, market cap and latest news

The historic crypto is currently in 15th position by market capitalization, with a price trend that follows the trend of its queen BTC.

Indeed, after the ATH (All-Time High) touched at the beginning of this month of May 2021, at $336, Litecoin has seen the collapse reaching its low of the month at $136.

Certainly, the news that has affected BTC, such as China’s ban on crypto and Elon Musk’s statements (affirmations and denials), have affected the entire crypto market this month, including Litecoin (LTC).

In fact, there is no shortage of news around Litecoin with a view to increasing mass adoption of the crypto. In fact, LTC was recently added as a payment method on the friend-to-friend payment app, Venmo, and the urban clothing e-commerce ProtonMail

LTC’s current price is still around $196, with a market capitalization of over $13 billion.


The post Grayscale Litecoin Trust: the trend of the LTC asset appeared first on The Cryptonomist.

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All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

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