$LTC Today it jumped in one go by about 10%. The price action has touched 69.5, and the current price is around 68.3.
Some people have started using the spot ETF as a reason. First, let’s set the “facts” straight: for Canary’s LTCC, the official net asset value as of September 23 is about $8.32 million. The coin spikes one day after another, but the basket is still in the same ballpark—so “up ≠ institutional money has already flooded in.”
Over at Grayscale, the paperwork to change the trust into a NYSE ETF is still in process—don’t treat it as already approved and that the money has already arrived.
As for me, I’m not chasing this surge. I’ll either wait to see hard numbers showing the ETF has expanded, or wait for a pullback and confirmation that it holds support. Personal view: manage your own position yourself.
$LTC
Some people have started using the spot ETF as a reason. First, let’s set the “facts” straight: for Canary’s LTCC, the official net asset value as of September 23 is about $8.32 million. The coin spikes one day after another, but the basket is still in the same ballpark—so “up ≠ institutional money has already flooded in.”
Over at Grayscale, the paperwork to change the trust into a NYSE ETF is still in process—don’t treat it as already approved and that the money has already arrived.
As for me, I’m not chasing this surge. I’ll either wait to see hard numbers showing the ETF has expanded, or wait for a pullback and confirmation that it holds support. Personal view: manage your own position yourself.
$LTC