LTCN: Spot Litecoin ETFs Might Not Matter

Description

Summary LTCN's spot ETF conversion is delayed, with SEC approval now expected by October, but the NAV discount has nearly vanished, reducing arbitrage appeal. Market sentiment for a Litecoin ETF is lukewarm, with minimal fund flows and low investor demand compared to Solana and Ethereum products. Despite strong odds for ETF approval, Litecoin lacks the narrative and capital inflows driving other digital assets, signaling limited near-term upside. I downgrade LTCN to 'hold' as upside from ETF con...