80% of the Total Mined LTC for February Now Belongs to Grayscale

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Grayscale Investments, the largest crypto fund management firm in the world, has reportedly purchased 80% of the total mined Litecoin (LTC) last month. Grayscale’s LTC holdings are now at over 1.44 million, amounting to $248.33 million in current market prices, thus, making the digital currency the third-largest crypto holding by Grayscale as of date.

Notably, crypto miners managed to produce more than 200,000 LTCs in February. And as reported, the majority of them ended up in the hands of Grayscale customers. As a matter of fact, for the last month or so, the Litecoin Trust of Grayscale (LTCN) amassed more than 174,900 LTCs.

As for the precise reason for the astounding LTC hauling of Grayscale, experts point their fingers at the fund manager’s infamous premiums. According to the firm’s prospectus, a share of LTCN only contains $15.70 worth of LTC, while the exact same share trades at a massive $304.99 on the open market. That is an incredible 1,842.61% premium that is paid off by investors who are trying to gain experience and exposure to LTC through a regulated fund without having to manage private keys.

The particular LTC premium also stands as the largest compared to the other products of Grayscale by a wide margin – implying that the demand for LTC is indeed currently unmatched.

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