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The U.S. Securities and Exchange Commission (SEC) has invited public comments regarding Grayscale’s proposal to convert its Litecoin Trust into a publicly traded product. This announcement follows a 19b-4 application submitted by NYSE Arca. Comments are expected to be submitted within 21 days after publication in the Federal Register.
Application and Review Process
The document submitted by NYSE Arca previously includes applications for Grayscale’s Litecoin Trust as well as the Solana 
$191 Trust. The Commission may proceed to approve, reject, or conduct additional evaluations based on the comments received and the existing market risk factors. This process will prioritize investor protection and current regulations.
Public comments were also collected prior to the approval processes for BTC ($97,288.37) and ETH ($2,729.13) ETFs. The SEC has engaged with potential issuers to isolate risks associated with these products, indicating a likelihood of approval for Litecoin due to its structural similarities with Ether.
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