GRAYSCALE LITECOIN TRUST
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Grayscale Litecoin Trust (LTC) is a Statutory Trust. The Trust’s purpose is to hold Litecoin (LTC), which are digital assets that are created and transmitted through the operations of the peer-to-peer Litecoin Network, a decentralized network of computers that operates on cryptographic protocols. The Trust’s investment objective is for the value of the Shares (based on LTC per Share) to reflect the value of LTC held by the Trust, determined by reference to the Index Price, less the Trust’s expenses and other liabilities. The activities of the Trust are limited to issuing Baskets in exchange for LTC transferred to the Trust as consideration in connection with the creations, transferring or selling LTC, Incidental Rights and IR Virtual Currency as necessary to cover the Sponsor’s Fee and/or any Additional Trust Expenses, transferring LTC in exchange for Baskets surrendered for redemption (subject to obtaining regulatory approval from the SEC and approval from the Sponsor).
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