Grayscale Litecoin Trust (LTC) Files Q3 2024 10-Q

TL;DR

**Grayscale Litecoin Trust (LTC) 10-Q filed: Financials for Q3 2024 are out. Check it.**

AI Summary

Grayscale Litecoin Trust (LTC) filed its 10-Q for the period ending September 30, 2024. The filing details the trust's financial position and operational activities. Key financial data and disclosures relevant to investors in the Litecoin Trust are presented in this report.

Why It Matters

This filing provides crucial financial and operational updates for Grayscale Litecoin Trust (LTC), offering insights into its performance and holdings for investors.

Risk Assessment

Risk Level: medium — The value of the trust is directly tied to the price of Litecoin, a volatile cryptocurrency, and subject to regulatory risks.

Key Numbers

• 2024-09-30 — Reporting Period End Date (Indicates the financial data covers up to this date.)
• 2024-11-01 — Filing Date (The date the 10-Q was officially submitted to the SEC.)

Key Players & Entities

• Grayscale Litecoin Trust (LTC) (company) — Filer of the 10-Q
• 2024-09-30 (date) — End of the reporting period
• 2024-11-01 (date) — Filing date
• Litecoin (company) — Underlying asset of the trust

FAQ

Filing Documents

• ltcn-20240930.htm (10-Q) — 788KB
• ltcn-ex31_1.htm (EX-31.1) — 21KB
• ltcn-ex31_2.htm (EX-31.2) — 21KB
• ltcn-ex32_1.htm (EX-32.1) — 7KB
• ltcn-ex32_2.htm (EX-32.2) — 7KB
• img87592896_0.jpg (GRAPHIC) — 432KB
• img87592896_1.jpg (GRAPHIC) — 265KB
• img87592896_2.jpg (GRAPHIC) — 239KB
• 0000950170-24-120131.txt ( ) — 4833KB
• ltcn-20240930.xsd (EX-101.SCH) — 315KB
• ltcn-20240930_htm.xml (XML) — 383KB

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 September 30, 2024 and June 30, 2024 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 23 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 25 Item 3. Defaults Upon Senior Securities 26 Item 4. Mine Safety Disclosures 26 Item 5. Other Information 26 Item 6. Exhibits 27 GLOSSARY OF DEFINED TERMS 28

SIGNATURES

SIGNATURES 32 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) September 30, 2024 June 30, 2024 Assets: Investment in LTC, at fair value (cost $ 171,194 and $ 164,536 as of September 30, 2024 and June 30, 2024, respectively) $ 127,514 $ 133,833 Total assets $ 127,514 $ 133,833 Liabilities: Sponsor's Fee payable, related party $ - $ - Total liabilities - - Net assets $ 127,514 $ 133,833 Shares issued and outstanding, no par value (unlimited Shares authorized) 22,342,400 21,019,200 Principal market net asset value per Share $ 5.71 $ 6.37 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) September 30, 2024 Quantity of LTC Cost Fair Value % of Net Assets Investment in LTC 1,895,003.59784959 $ 171,194 $ 127,514 100 % Net assets $ 171,194 $ 127,514 100 % June 30, 2024 Quantity of LTC Cost Fair Value % of Net Assets Investment in LTC 1,794,013.32656083 $ 164,536 $ 133,833 100 % Net assets $ 164,536 $ 133,833 100 % See accompanying notes to the unaudited financial statements. 5 GRAYSCALE Litecoin TRUST (LTC) ( Amounts in thousands) Three Months Ended September 30, 2024 2023 Investment income: Investment income $ - $ - Expenses: Sponsor's Fee, related party 770 740 Net investment loss ( 770 ) ( 740 ) Net realized and unrealized loss from: Net realized loss on investment in LTC ( 287 ) ( 143 ) Net change in unrealized depreciation on investment in LTC ( 12,977 ) ( 58,570 ) Net realized and unrealized loss on investment ( 13,264 ) ( 58,713 )

View Full Filing

View this 10-Q filing on SEC EDGAR