Home Litecoin Type 8-Okay Grayscale Litecoin Belief For: Jan 11

Type 8-Okay Grayscale Litecoin Belief For: Jan 11

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8-Okay

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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

 

FORM 8-Okay

 

CURRENT REPORT

Pursuant to Part 13 or 15(d) of the Securities Trade Act of 1934

Date of Report (Date of earliest occasion reported): January 11, 2022

 

 

Grayscale Litecoin Belief (LTC)

(Actual identify of Registrant as Laid out in Its Constitution)

 

 

Delaware

000-56310

82-6868171

(State or Different Jurisdiction
of Incorporation)

(Fee File Quantity)

(IRS Employer
Identification No.)

 

 

 

 

 

c/o Grayscale Investments, LLC

290 Harbor Drive, 4th Ground

 

Stamford, Connecticut

 

06902

(Tackle of Principal Government Places of work)

 

(Zip Code)

 

Registrant’s Phone Quantity, Together with Space Code: 212 668-1427

 

(Former Identify or Former Tackle, if Modified Since Final Report)

 

Test the suitable field beneath if the Type 8-Okay submitting is meant to concurrently fulfill the submitting obligation of the registrant underneath any of the next provisions:

Written communications pursuant to Rule 425 underneath the Securities Act (17 CFR 230.425)

Soliciting materials pursuant to Rule 14a-12 underneath the Trade Act (17 CFR 240.14a-12)

Pre-commencement communications pursuant to Rule 14d-2(b) underneath the Trade Act (17 CFR 240.14d-2(b))

Pre-commencement communications pursuant to Rule 13e-4(c) underneath the Trade Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Part 12(b) of the Act: None


Title of every class

 

Buying and selling
Image(s)

 


Identify of every change on which registered

N/A

 

LTCN

 

N/A

Point out by test mark whether or not the registrant is an rising development firm as outlined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Trade Act of 1934 (§ 240.12b-2 of this chapter).

Rising development firm

If an rising development firm, point out by test mark if the registrant has elected to not use the prolonged transition interval for complying with any new or revised monetary accounting requirements offered pursuant to Part 13(a) of the Trade Act.

 

 


Merchandise 8.01 Different Occasions.

Grayscale Litecoin Belief (LTC) (the “Belief”) values its Litecoin (“LTC”) for operational functions by reference to the volume-weighted index worth (the “Index Value”) of an LTC in U.S. {dollars} calculated by making use of a weighting algorithm to the value and buying and selling quantity information for the instantly previous 24-hour interval as of 4:00 p.m., New York time derived from the chosen digital asset exchanges which can be mirrored within the CoinDesk Litecoin Value Index (LTX) (the “Index”) on such commerce date. The Index Value is calculated utilizing non-GAAP methodology and isn’t used within the Belief’s monetary statements. If the Index turns into unavailable or if Grayscale Investments, LLC, the sponsor (the “Sponsor”) of the Belief, determines in good religion that the Index doesn’t mirror an correct LTC worth, then the Sponsor will make use of an alternate technique to find out the Index Value underneath the cascading algorithm as described within the Belief’s Exhibit 99.1 to Modification No. 3 to the Belief’s Registration Assertion on Type 10, as filed with the Securities and Trade Fee on November 4, 2021. Efficient January 11, 2022, the Sponsor has amended the cascading algorithm used to find out the Index Value as described beneath.

 

Updates to the Belief’s LTC Worth disclosure:

 

Willpower of the Index Value When Index Value is Unavailable

 

The Sponsor will use the next cascading algorithm to calculate the Index Value. For the avoidance of doubt, the Sponsor will make use of the beneath guidelines sequentially and within the order as introduced beneath, ought to a number of particular rule(s) fail:

1.

Index Value = The worth set by the Index as of 4:00 p.m., New York time, on the valuation date. If the Index turns into unavailable, or if the Sponsor determines in good religion that the Index doesn’t mirror an correct worth, then the Sponsor will, on a greatest efforts foundation, contact the Index Supplier to acquire the Index Value straight from the Index Supplier. If after such contact the Index stays unavailable or the Sponsor continues to imagine in good religion that the Index doesn’t mirror an correct worth, then the Sponsor will make use of the subsequent rule to find out the Index Value. There aren’t any predefined standards to make an excellent religion evaluation and will probably be made by the Sponsor in its sole discretion.

2.

Index Value = The worth set by Coin Metrics Actual-Time Charge (the “Secondary Index”) as of 4:00 p.m., New York time, on the valuation date (the “Secondary Index Value”). The Secondary Index Value is a real-time reference price worth, calculated utilizing commerce information from constituent markets chosen by Coin Metrics (the “Secondary Index Supplier”). The Secondary Index Value is calculated by making use of weighted-median strategies to such commerce information the place half the burden is derived from the buying and selling quantity on every constituent market and half is derived from inverse worth variance, the place a constituent market with excessive worth variance on account of outliers or market anomalies in comparison with different constituent markets is assigned a smaller weight. If the Secondary Index turns into unavailable, or if the Sponsor determines in good religion that the Secondary Index doesn’t mirror an correct worth, then the Sponsor will, on a greatest efforts foundation, contact the Secondary Index Supplier to acquire the Secondary Index Value straight from the Secondary Index Supplier. If after such contact the Secondary Index stays unavailable or the Sponsor continues to imagine in good religion that the Secondary Index doesn’t mirror an correct worth, then the Sponsor will make use of the subsequent rule to find out the Index Value. There aren’t any predefined standards to make an excellent religion evaluation and will probably be made by the Sponsor in its sole discretion.

3.

Index Value = The worth set by the Belief’s principal market (the “Tertiary Pricing Possibility”) as of 4:00 p.m., New York time, on the valuation date. The Tertiary Pricing Possibility is a spot worth derived from the principal market’s public information feed that’s believed to be constantly publishing pricing data as of 4:00 p.m., New York time, and is offered to the Sponsor by way of an software programming interface. If the Tertiary Pricing Possibility turns into unavailable, or if the Sponsor determines in good religion that the Tertiary Pricing Possibility doesn’t mirror an correct worth, then the Sponsor will, on a greatest efforts foundation, contact the Tertiary Pricing Supplier to acquire the Tertiary Pricing Possibility straight from the Tertiary Pricing Supplier. If after such contact the Tertiary Pricing Possibility stays unavailable after such contact or the Sponsor continues to imagine in good religion that the Tertiary Pricing Possibility doesn’t mirror an correct worth, then the Sponsor will make use of the subsequent rule to find out the Index Value. There aren’t any predefined standards to make an excellent religion evaluation and will probably be made by the Sponsor in its sole discretion.

4.

Index Value = The Sponsor will use its greatest judgment to find out an excellent religion estimate of the Index Value. There aren’t any predefined standards to make an excellent religion evaluation and will probably be made by the Sponsor in its sole discretion.

 


SIGNATURES

Pursuant to the necessities of the Securities Trade Act of 1934, the registrant has duly triggered this report back to be signed on its behalf by the undersigned thereunto duly licensed.

 

 

 

Grayscale Investments, LLC as Sponsor of the Grayscale Litecoin Belief (LTC)

 

 

 

 

Date:

January 13, 2022

By:

/s/ Michael Sonnenshein

 

 

 

Michael Sonnenshein
Chief Government Officer

 





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