The LTCN Grayscale asset, on which the OTC shares are listed, is currently trading at a much higher price than Litecoin (LTC), the underlying asset.

At time of publication, Litecoin is trading at $ 60.62 and LTCN Shares at $ 54.01. The two prices appear to be close, although each LTCN stock equates to just 0.094 LTC, according to Grayscale’s website.

A purchase of approximately 10.64 LTCN equals one LTC ownership. However, at current prices, buying 1 LTCN worth LTCN costs about $ 574, which is $ 500 more than the price of 1 LTC purchased in the cryptocurrency markets. A higher bonus was received on August 20, when each LTCN share was valued at $ 99.

In July 2020, Grayscale announced the over-the-counter listing of LTCN public shares and issued FINRA regulatory approval. Grayscale originally made available LTCN in March 2018, but only for certified members.

Grayscale’s time-tested Bitcoin (BTC) trading product, called GBTC, often has a big premium over the underlying spot asset, but not as uncommonly as LTCN.

Source: CoinTelegraph