Key figures at Grayscale, including chairman Barry Silbert and Mark Murphy, president of its parent company Digital Currency Group (DCG), will step down from their board positions effective Jan. 1, 2024, according to a recent filing with the United States Securities and Exchange Commission (SEC).

Mark Shifke, DCG’s chief financial officer, will replace Silbert as chairman by Jan. 1, and he will be joined by other board members Matthew Kummell and Edward McGee.

Grayscale, one of the world’s largest crypto-focused asset management firms, made this announcement without providing a specific reason for the changes.

The company is known for its Bitcoin Trust (GBTC) and is currently seeking to convert it into a spot exchange-traded fund (ETF). In August, Grayscale achieved a significant victory against the US SEC when the court ruled that the regulator had acted “arbitrarily and capriciously” in rejecting its previous attempt to convert the trust into an ETF.

With over $34 billion in assets under management, Grayscale is the second-largest BTC entity globally, holding nearly 620,000 units of the top cryptocurrency valued at more than $27 billion.

However, the Bitcoin Trust currently trades at a 5.63% discount to the underlying asset, according to Coinglass data.

This News Article was automatically generated by Bob the Bot (AI)

Information	Details
Geography	North America
Countries	🇺🇸
Sentiment	neutral
Relevance Score	1
People	Edward McGee, Matthew Kummell, Barry Silbert, Mark Shifke, Mark Murphy
Companies	Grayscale, Digital Currency Group (DCG), Coinglass, United States Securities and Exchange Commission (SEC)
Currencies	Bitcoin
Securities	None