Grayscale Investments filed an S-3/A registration statement with the SEC (U.S. securities regulator) on September 11, 2026, seeking to rebrand the Grayscale Litecoin Trust as the Grayscale Litecoin Trust ETF and list its shares on NYSE Arca. The proposed conversion would introduce the creation and redemption process used by exchange-traded funds, allowing authorized participants to exchange share baskets for Litecoin and potentially narrowing premiums or discounts to net asset value. The trust, established in January 2018 and trading over the counter under LTCN, held about 24.25 million shares outstanding and $82.28 million in net assets as of June 30, 2026, equivalent to roughly $3.39 per share on a NAV basis. Grayscale first filed a 19b-4 rule-change proposal on January 24, 2025, followed by an amendment in February 2025; the SEC has extended its review several times, including a notable deadline in October 2025. Grayscale has signed a new prime brokerage agreement with Coinbase to facilitate share creation and redemption if trading begins. The trust charges a 2.5% annual sponsor fee, above fees associated with spot Bitcoin ETFs launched in the United States in early 2024. Assets under management declined from more than $215 million in early 2025 to about $82 million by mid-2026, a roughly 62% drop over approximately 18 months. The proposed Litecoin ETF would broaden access to crypto assets through traditional brokerage accounts, following Grayscale’s conversions of GBTC and the Grayscale Ethereum Trust into ETFs. Approval could reprice LTCN toward NAV, as occurred through the structure-changing process for Bitcoin and Ethereum products.