Grayscale Litecoin Trust (LTC) Files 10-Q for Period Ended December 31, 2023

TL;DR

<b>Grayscale Litecoin Trust (LTC) has filed its quarterly report (10-Q) for the period ending December 31, 2023.</b>

AI Summary

Grayscale Litecoin Trust (LTC) (LTCN) filed a Quarterly Report (10-Q) with the SEC on February 7, 2024. Grayscale Litecoin Trust (LTC) filed a 10-Q report for the quarterly period ended December 31, 2023. The filing is for the period from July 1, 2023, to December 31, 2023. The Trust is sponsored by Grayscale Investments, LLC. The principal executive offices are located at 290 Harbor Drive, 4th Floor, Stamford, Connecticut 06902. The Trust's telephone number is (212) 668-1427.

Why It Matters

For investors and stakeholders tracking Grayscale Litecoin Trust (LTC), this filing contains several important signals. This filing provides investors with an update on the financial performance and holdings of the Grayscale Litecoin Trust for the specified quarter. As a 10-Q filing, it offers detailed financial statements and disclosures required by the SEC, allowing for an assessment of the Trust's current status and operational activities.

Risk Assessment

Risk Level: low — Grayscale Litecoin Trust (LTC) shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain immediate material changes or significant financial distress indicators, making the risk low.

Analyst Insight

Review the detailed financial statements and disclosures within the 10-Q to understand the Trust's performance and asset valuation as of December 31, 2023.

Key Numbers

• 2023-12-31 — Quarter End Date (Period reported)
• 000-56310 — Commission File Number (SEC Filing identifier)
• 212-668-1427 — Business Phone (Registrant's contact number)
• 2024-02-07 — Filing Date (Date the report was filed)

Key Players & Entities

• Grayscale Litecoin Trust (LTC) (company) — Registrant
• Grayscale Investments, LLC (company) — Sponsor
• 290 Harbor Drive, 4th Floor, Stamford, Connecticut 06902 (location) — Business Address
• 212-668-1427 (phone) — Business Phone
• December 31, 2023 (date) — Quarterly period ended
• 20231231 (date) — Conformed Period of Report
• 000-56310 (other) — Commission File Number
• Delaware (location) — State of Incorporation

Forward-Looking Statements

• The Trust's operational performance will continue to be highly correlated with Litecoin's market price movements. (Grayscale Litecoin Trust (LTC)) — high confidence, target: 2024-12-31

FAQ

Risk Factors

• Regulatory Compliance [medium — regulatory]: The Trust is subject to the rules and regulations of the Securities Exchange Act of 1934 and other applicable laws.
• Market Volatility of Litecoin [high — market]: The value of the Trust's assets is directly tied to the market price of Litecoin, which is highly volatile.
• Operational Risks [medium — operational]: Risks associated with the custody and management of digital assets, including potential cybersecurity threats.
• Valuation of Digital Assets [medium — financial]: Challenges in accurately valuing digital assets, especially in volatile market conditions.

Key Dates

• 2023-12-31: Quarterly Period End — Reporting period for the 10-Q filing.
• 2024-02-07: Filing Date — Date the 10-Q report was officially submitted to the SEC.

Filing Documents

• ltcn-20231231.htm (10-Q) — 906KB
• ltcn-ex31_1.htm (EX-31.1) — 20KB
• ltcn-ex31_2.htm (EX-31.2) — 20KB
• ltcn-ex32_1.htm (EX-32.1) — 7KB
• ltcn-ex32_2.htm (EX-32.2) — 7KB
• img86692440_0.jpg (GRAPHIC) — 366KB
• img86692440_1.jpg (GRAPHIC) — 237KB
• img86692440_2.jpg (GRAPHIC) — 221KB
• 0000950170-24-011970.txt (&nbsp;) — 4786KB
• ltcn-20231231.xsd (EX-101.SCH) — 317KB
• ltcn-20231231_htm.xml (XML) — 460KB

Forward-Looking Statements

Forward-Looking Statements 3 Industry and Market Data 3

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION Item 1.

Financial Statements (Unaudited)

Financial Statements (Unaudited) 4 4 Schedules of Investment at December 31, 2023 and June 30, 2023 5 6 7 Notes to the Unaudited Financial Statements 8 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 16 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 22 Item 4.

Controls and Procedures

Controls and Procedures 22

– OTHER INFORMATION

PART II – OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 23 Item 1A.

Risk Factors

Risk Factors 24 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 24 Item 3. Defaults Upon Senior Securities 24 Item 4. Mine Safety Disclosures 24 Item 5. Other Information 24 Item 6. Exhibits 25 GLOSSARY OF DEFINED TERMS 26

SIGNATURES

SIGNATURES 30 2 Forw ard-Looking Statements This Quarterly Report on Form 10-Q contains "forward-looking statements" with respect to the financial conditions, results of operations, plans, objectives, future performance and business of Grayscale Litecoin Trust (LTC) (the "Trust"). Statements preceded by, followed by or that include words such as "may," "might," "will," "should," "expect," "plan," "anticipate," "believe," "estimate," "predict," "potential" or "continue," the negative of these terms and other similar expressions are intended to identify some of the forward-looking statements. All statements (other than statements of historical fact) included in this Quarterly Report that address activities, events or developments that will or may occur in the future, including such matters as changes in market prices and conditions, the Trust's operations, the plans of Grayscale Investments, LLC (the "Sponsor") and references to the Trust's future success and other similar matters are forward-looking statements. These statements are only predictions. Actual events or results may differ materially from such statements. These statements are based upon certain assumptions and analyses the Sponsor made based on its perception of historical trends, current conditions and expected future developments, as well as other factors appropriate in the circumstances. Whether or not actual results and developments will conform to the Sponsor's expectations and predictions, however, is subject to a number of risks and uncertainties, including, but not limited to, those described in "Part I, Item 1A. Risk Factors" of our Annual Report on Form 10-K and in "Part II, Item 1A. Risk Factors" herein. Forward-looking statements are made based on the Sponsor's beliefs, estimates and opinions on the date the statements are made and neither the Trust nor the Sponsor is under a duty or undertakes an obligation to update forward-looking statements if these beliefs, estimates and opinions

– FINANCI AL INFORMATION

PART I – FINANCI AL INFORMATION:

Financial St atements (Unaudited)

Item 1. Financial St atements (Unaudited) GRAYSCALE Litecoin TRUST (LTC) ( Amounts in thousands, except Share and per Share amounts) December 31, 2023 June 30, 2023 Assets: Investment in LTC, at fair value (cost $ 138,923 and $ 140,684 as of December 31, 2023 and June 30, 2023, respectively) $ 109,385 $ 158,667 Total assets $ 109,385 $ 158,667 Liabilities: Sponsor's Fee payable, related party $ - $ - Total liabilities - - Net assets $ 109,385 $ 158,667 Net Assets consists of: Paid-in-capital 149,846 149,846 Accumulated net investment loss ( 13,637 ) ( 12,243 ) Accumulated net realized gain on investment in LTC 2,714 3,081 Accumulated net change in unrealized (depreciation) appreciation on investment in LTC ( 29,538 ) 17,983 $ 109,385 $ 158,667 Shares issued and outstanding, no par value (unlimited Shares authorized) 17,204,700 17,204,700 Principal market net asset value per Share $ 6.36 $ 9.22 See accompanying notes to the unaudited financial statements. 4 GRAYSCALE Litecoin TRUST (LTC) SCHEDULES OF INVESTMENT (UNAUDITED) ( Amounts in thousands, except quantity of LTC and percentages) December 31, 2023 Quantity of LTC Cost Fair Value % of Net Assets Investment in LTC 1,486,811.07335384 $ 138,923 $ 109,385 100 % Net assets $ 138,923 $ 109,385 100 % June 30, 2023 Quantity of LTC Cost Fair Value % of Net Assets Investment in LTC 1,505,668.18819118 $ 140,684 $ 158,667 100 % Net assets $ 140,684 $ 158,667 100 % See accompanying notes to the unaudited financial statements. 5 GRAYSCALE Litecoin TRUST (LTC) ( Amounts in thousands) Three Months Ended December 31, Six Months Ended December 31, 2023 2022 2023 2022 Investment income: Investment income $ - $

View Full Filing

View this 10-Q filing on SEC EDGAR