Grayscale Investments, whose application to turn its Bitcoin Trust (GBTC) into a U.S. spot exchange-traded fund (ETF) is being considered by the Securities and Exchange Commission, said Barry Silbert resigned as chairman and will be replaced by Mark Shifke.
Silbert’s Digital Currency Group (DCG), which owns Grayscale, was sued in October by New York Attorney General Letitia James for allegedly defrauding more than 230,000 investors, including at least 29,000 New Yorkers, of more than $1 billion. DCG rejected the allegations.
Shikfe, DCG’s chief financial officer, will replace Silbert as of Jan. 1, Grayscale said in an SEC filing without giving any reason for the changes. Mark Murphy, DCG’s president, also resigned from the board.
UPDATE (Dec. 26, 14:00 UTC): Adds rejection of allegations in second paragraph, Mark Murphy resignation in third.