Grayscale to add 174,000 LTC to its Litecoin Trust

New York-based cryptocurrency asset managers Grayscale bought over 174,000 Litecoin over the past month. This is the equivalent of 80% of all mined LTC in February.

As of today, the Grayscale Litecoin Trust holds $244.5mn of assets under management (AUM). This makes it the third biggest Grayscale trust after the Bitcoin Trust with $31.2bn AUM and the Ethereum Trust with $4.7bn AUM.

Grayscale is a regulated investment company, registering its shares with the U.S. Securities and Exchange Commission (SEC). It operates several single asset and multi-asset cryptocurrency trusts, which are the first digital currency investment vehicles to obtain the SEC’s approval.

The trusts allow accredited investors, usually institutions and high net worth individuals, exposure to cryptocurrency through buying and selling of its publicly traded shares.

Investors trade these shares on the OTCQX, which is an over-the-counter market operating under Alternative Reporting Standards. This means they are not required to register with the SEC.

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