Grayscale Investments changes CEO. This was announced by the company itself, which in a new document presented to the SEC communicated the resignation of Barry Silbert, who will be replaced on January 1st by Mark Shifke, currently CFO of Digital Currency Group (parent company).
The change at the helm of the company has made more than one person in the crypto community suspicious, but until now the actual reasons for the choice have not been communicated, and it seems that not even the markets have reacted negatively to the news.
However, the matter needs to be kept under review, as Grayscale represents one of the main players involved in the Bitcoin spot ETF saga, in its attempt to convert the GBTC trust.
And given that the deadline for the approval of Ark-21Share's application is getting closer and closer (January 10), every aspect relating or collateral to the matter takes on substantial importance.
Together with Silbert, Grayscale board member Mark Murphy also left the company, and his seat was shared between CFO Edward McGee and Matt Kummell, vice president of operations at DCG.
Problems for ETFs?
The SEC, meanwhile, is awaited by the entire crypto community and applicants after having repeatedly postponed the judgment on ETFs. Among these, in addition to BlackRock, Vaneck or Hashdex, there is also Grayscale, which however seems to be able to hide some problems arising from the parent company DCG.
Or at least, that's what Silbert's recent resignation suggests. Digital Currency Group, after all, has been sued in the past for alleged fraud, and Silbert has been personally accused by the New York attorney general for hiding several losses.
In addition to the documents submitted to the SEC, there are still no official communications from the company, but only a comment snatched from a Grayscale spokesperson by the industry press: “Grayscale and our investors will benefit from the respective experiences of the newcomers to the board in the financial services sectors and asset management as we prepare for the next chapter.”
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