Barry Silbert to leave Grayscale board

Grayscale’s management company said that several board members would step down and announced replacements. The documents filed with the SEC show this.

Barry Silbert, founder and chief executive of Digital Currency Group (DCG), Grayscale’s parent company, will depart the board on 1 January 2024. DCG president Mark Murphy will also depart.

New members joining the board are Marc Shifke, Matthew Kammel, and Edward McGee. All three are connected to Digital Currency Group in one way or another.

“Marc Shifke, Matthew Kammel, and Edward McGee will join the board, and they will also retain the powers granted to them as officers under the LLC agreement,” the statement said.

Grayscale is currently seeking SEC approval to convert GBTC into a spot Bitcoin-ETF. In late August a U.S. court granted the firm’s motion against the regulator for refusing to convert the trust.

In September the firm asked the regulator to promptly approve the instrument. In October the court ordered the agency to reconsider the relevant application. In November the parties discussed the details of the spot Bitcoin-ETF. Later took place other meetings with the agency.

In December, SEC chairman Gary Gensler hinted at how Grayscale’s victory would influence the agency’s decisions on spot ETFs.