Barry Silbert, founder and CEO of Digital Current Group, and Mark Murphy, president of DCG, have resigned from Grayscale Investments’ board of directors.
According to the document, their resignation is effective January 1, 2024. On Tuesday, Grayscale Bitcoin Trust filed with the Securities and Exchange Commission. The SEC is currently reviewing G. BTC
-2.20%
This is an application for conversion to a spot Bitcoin exchange-traded fund.
DCG is the parent company of Grayscale.
Silbert, who served as chairman of Grayscale’s board of directors, will be succeeded by Mark Schiffke, 64, DCG’s chief financial officer. Other new members of Grayscale’s board of directors include DCG Senior Vice President of Operations Matt Kummell, 47, and Grayscale Chief Financial Officer Edward McGee, 40, according to the filing.
Grayscale’s board of directors currently consists of Shifke, Kummell, McGee and Michael Sonnenshein, the company’s CEO. The filing did not specify a reason for the change.
Bitcoin ETF Spot
This change in leadership at Grayscale coincides with the cryptocurrency asset manager’s efforts to secure SEC approval to convert GBTC into a spot Bitcoin ETF. Sonnenshein expressed optimism about Grayscale’s recent discussions with the SEC regarding the potential approval of a spot Bitcoin ETF.
Amid growing market optimism that the U.S. will finally approve an ETF that can invest directly in Bitcoin, several companies, including BlackRock and Fidelity, have submitted applications for spot Bitcoin ETFs.
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