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Crypto

Grayscale moves to convert LTCN Litecoin trust into ETF, eyeing net asset recovery

Grayscale has filed an amended application with the U.S. Securities and Exchange Commission to convert its Litecoin trust, LTCN, into a spot exchange-traded fund. If approved and listed, it would be renamed the Grayscale Litecoin Trust ETF and seek listing on NYSE Arca. The trust remains privately issued and trades over the counter, while its net asset value and per-share NAV have fallen. LTCN also trades at a discount to NAV.

Crypto

Dogecoin spot ETF BWOW to liquidate, exits after 11 months

Bitwise, a U.S. crypto asset manager, will liquidate and close its dogecoin spot ETF BWOW less than a year after launch. The fund, listed on NYSE Arca on Nov. 25 last year, will see its last trading day on Oct. 14. New share creation will halt before trading begins on Oct. 15. Remaining shareholders will receive a cash payment on Oct. 22 based on net asset value calculated as of Oct. 21.

Crypto

Why bitcoin cannot clear $80,000 as oil surge to $100 adds pressure

Bitcoin erased overnight gains after U.S. stocks opened on Sept. 9, as investors grew cautious ahead of U.S. producer and consumer price data. Major altcoins also fell. Brent crude climbed above $100 a barrel for the first time since July 23, adding pressure on risk assets, while Treasury yields stayed high. Spot bitcoin ETF flows turned negative on Sept. 8. In contrast, Zcash surged on ETF-related developments and the launch of options trading.