The following discussion and analysis of our financial condition and results ofoperations should be read together with, and is qualified in its entirety byreference to, our unaudited financial statements and related notes includedelsewhere in this Quarterly Report, which have been prepared in accordance withgenerally accepted accounting principles in the United States ("U.S. GAAP"). Thefollowing discussion may contain forward-looking statements based on assumptionswe believe to be reasonable. Our actual results could differ materially fromthose discussed in these forward-looking statements. Factors that could cause orcontribute to these differences include, but are not limited to, those set forthunder Part II, Item 1A. Risk Factors in this Quarterly Report and under "RiskFactors" or the other sections of the Information Statement.

Trust Overview

Critical Accounting Policies and Estimates

Investment Transactions and Revenue Recognition

Principal Market and Fair Value Determination

Second, the Trust sorts the remaining Digital Asset Markets from high to low byentity-specific and market-based volume and activity of LTC traded on eachDigital Asset Market in the trailing twelve months.

Investment Company Considerations

Review of Financial Results (unaudited)

Financial Highlights for the Three and Nine Months Ended March 31, 2022 and 2021

(All amounts in the following table and the subsequent paragraphs, except Shareand per Share, LTC and price of LTC amounts, are in thousands)

Cash Resources and Liquidity

Selected Operating Data

Nine Months Ended March 31,

Digital Asset Holdings per Share using Index Price (3) $ 11.23 $ 17.90

(1)

Historical Digital Asset Holdings and LTC Prices

115.75 3/30/2018 $ 119.70 $ 118.16Twelve months ended March31, 2019

22.48 12/14/2018 $ 60.23 $ 60.95Twelve months ended March31, 2020

32.16 3/16/2020 $ 39.05 $ 39.05Twelve months ended March31, 2021

37.57 4/1/2020 $ 193.39 $ 193.39Twelve months ended March31, 2022

22.48 12/14/2018 $ 124.36 $ 124.36

The following chart sets out the historical closing prices for the Shares asreported by OTCQX and the Trust's Digital Asset Holdings per Share.

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The following chart sets out the historical premium and discount for the Sharesas reported by OTCQX and the Trust's Digital Asset Holdings per Share.

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GRAYSCALE LITECOIN TRUST (LTC) Management's Discussion and Analysis of Financial Condition and Results of Operations (form 10-Q) - Marketscreener.com