Grayscale announced the resignation of its chairman and board member.
What Happened: In an official SEC filing, Grayscale Bitcoin Trust GBTC confirmed that chair Barry E. Silbert and board member Mark Murphy will resign, effective Jan. 1, 2024.
The company has appointed CFO Mark Shifke, Matthew Kummell, and Edward McGee to the board effective Jan. 1, 2024.
Shifke succeeds Silbert as chairman.
Now the board consists of Shifke, Kummell, McGee and CEO Michael Sonnenshein,
Shifke has served as the CFO of Digital Currency Group earlier and from September 2023 he has served as on the board of directors of Luno, a cryptocurrency platform.
Why It Matters: The Spot Bitcoin ETF approval window is open from Jan. 5 to Jan. 10, 2024.
Separately, BlackRock Inc and Grayscale reportedly convened with the U.S. Securities and Exchange Commission (SEC) on Thursday to discuss their proposed ETF applications.
The SEC announced Dec. 29 as the deadline for final amendments, and any issuers failing to meet this deadline will not be considered for inclusion in the initial wave of potential spot bitcoin ETF approvals in early January.
Crypto trader and analyst, Ulrik K. Lykke took to his X handle and stated, "Imo, this looks like a requirement imposed by SEC to convert GBTC to an ETF. Bullish."
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