Barry Silbert and Mark Murphy Resign From Grayscale Board of Directors
Grayscale Investments, which operates the Grayscale Bitcoin Trust, disclosed in its December 26th 8-K filing with the U.S. Securities and Exchange Commission that significant changes are taking place in its board of directors.
Barry Silbert, founder and CEO of Digital Currency Group (DCG) — Grayscale's parent company — has decided to step down from Grayscale's board.
Alongside him, DCG president Mark Murphy also announced his resignation. Both will leave their positions effective January 1st. Concurrently, Grayscale is welcoming new board members Mark Shifke, Matthew Kummell, and Edward McGee.
The announcement states:
Effective January 1st, 2024, the board consists of Mr. Shifke, Mr. Kummell, Michael Sonnenshein, and Mr. McGee, who also retain the authority granted to them as officers under the limited liability company agreement of the sponsor.
Grayscale is among 14 companies that have submitted applications to the U.S. Securities and Exchange Commission (SEC) for a spot Bitcoin Exchange-Traded Fund (ETF).
The firm has been actively collaborating with the SEC regarding its Grayscale Bitcoin Trust and has put considerable effort into launching its spot Bitcoin ETF. This initiative saw a significant milestone in August 2023, when Grayscale won a lawsuit compelling the SEC to review its Bitcoin ETF proposal.
The impact of the recent reshuffling of Grayscale's board remains uncertain as details are still developing.