BlockFi Litecoin Trust Announces Prospective Abandonment of Its Interests in Certain Incidental Assets

JERSEY CITY, N.J., April 9, 2021 (Newswire.com) - BlockFi Litecoin Trust (the "Trust") announced today that it will irrevocably abandon, immediately prior to any time that the Trust creates or redeems units of beneficial interest in the Trust ("Shares") and for no direct or indirect consideration, all rights, title and interest in any assets resulting from any airdrops or forks in relation to Litecoin held by the Trust ("Incidental Assets"), except for Incidental Assets which it previously has taken any affirmative action to acquire, has abandoned, or has otherwise disposed of. None of the Trust, its sponsor and their respective affiliates will have any power or authority to take any action that would allow it or any owner of Trust Shares to economically benefit from any Incidental Asset that it has abandoned.

The Trust will not take any action at any time that is inconsistent with a prior abandonment of an Incidental Asset, including by accepting any future delivery of any abandoned Incidental Asset, accepting payment from any person in respect of any abandoned Incidental Asset or representing to any person or in any context that it has any remaining right with respect to any abandoned Incidental Asset.

Source: BlockFi