Summary
- Grayscale research head Zach Pandl backed Litecoin as its genesis block reached fifteen years and network operations reportedly remained uninterrupted.
- Litecoin processes approximately 156,000 daily transactions while its MWEB privacy pool holds over 563,000 LTC and transaction fees average $0.003.
- Grayscale seeks SEC approval to convert its Litecoin Trust into a spot ETF, with approximately $97.56 million in net assets.
Grayscale research head Zach Pandl has publicly backed Litecoin while the company seeks an NYSE Arca listing for its investment trust. According to Pandl, Litecoin recorded an unusual increase in mentions around its anniversary, prompting the researcher’s description of an “OG altcoin.”
His endorsement accompanied the fifteenth anniversary of Litecoin’s October 7, 2011, genesis block, coinciding with Grayscale’s proposed spot ETF conversion. Litecoin has operated without interruption since launch, with October 7, 2026, network figures showing approximately 156,000 daily transactions.
Meanwhile, Litecoin’s MWEB privacy pool has reached a record balance exceeding 563,000 LTC, adding another network milestone alongside the anniversary. Average transaction fees stand at approximately $0.003, according to the network figures included in the report.
The same figures put Litecoin’s hashrate at 2,671.43 TH/s and list 9.10 million active addresses across the network. Alongside those measurements, the report highlights Litecoin’s uninterrupted operating record as a central feature of its fifteen-year history.
Pandl’s remarks highlighted Litecoin’s status among the cryptocurrency market’s earliest assets, describing the coin with a term recognizing its longstanding presence. His public backing comes as Grayscale pursues regulatory approval for a different trading structure for its established Litecoin product.
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Grayscale Pursues Spot ETF Conversion for Litecoin Trust Holding Nearly $98 Million
Grayscale manages the Litecoin Trust under the LTCN ticker, providing an existing investment product based on the cryptocurrency. Reported trust figures show net assets of $97,560,938, with approximately 24.25 million shares outstanding across the investment vehicle.
In September, Grayscale filed an amended application with regulators seeking to convert the trust into a spot exchange-traded fund. The company’s proposal calls for a listing on NYSE Arca, while approval from the Securities and Exchange Commission remains pending.
Grayscale’s role centers on managing the investment product, rather than developing the Litecoin blockchain or overseeing its network operations. Its Litecoin Trust represents the largest investment product based on the coin, according to the supplied report.
Canary Capital already has a smaller Litecoin fund trading, giving the cryptocurrency another presence in the investment product market. Grayscale’s proposed conversion concerns its existing trust, which holds nearly $98 million in net assets under the reported figures.
Litecoin’s genesis anniversary brings together Pandl’s public endorsement, reported network milestones, and Grayscale’s pending proposal for an NYSE Arca listing.
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