Barry Silbert Steps Down from Grayscale’s Board of Directors

• The document states that DCG president Mark Murphy has also stepped down.
• Grayscale has named Mark Shifke as its new chairman in its 8-K filing.

Notable executives at cryptocurrency investment business Grayscale Investments have resigned from their positions on the board. The company runs the Grayscale Bitcoin Trust.

In its 8-K filing with the U.S SEC on December 26, Grayscale formally revealed that Barry Silbert, founder and CEO of Digital Currency Group (DCG), the parent company of Grayscale, is stepping down from the board of directors.

Major Shuffle

In addition to resigning from his position on the Grayscale board, the document states that DCG president Mark Murphy has done the same. With the addition of Mark Shifke, Matthew Kummell, and Edward McGee to the board, the resignations of Mark and Matthew take effect on January 1, 2024.

The announcement read:

“Effective January 1, 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 has been in active talks with the SEC about its Grayscale Bitcoin Trust and is one of fourteen companies that have applied for a spot Bitcoin ETF. After successfully suing the SEC for a Bitcoin ETF review in August 2023, Grayscale, has been diligently preparing to launch its spot Bitcoin ETF.

The likely approval of Grayscale’s spot Bitcoin ETF has been cited by several crypto community members as a possible explanation for the resignations. Grayscale has named Shifke, a 64-year-old financial specialist with extensive experience in banking and finance, as its new chairman in its 8-K filing. His current position at DCG is chief financial officer.