Grayscale, a crypto asset manager owned by Digital Currency Group (DCG), is reshuffling its board as it aims to convert its Grayscale Bitcoin Trust (GBTC) into a spot ETF. The resignations of several board members, including DCG CEO Barry Silbert, are seen as a move to pave the way for GBTC's potential uplisting. Despite the board changes, the economic impact to DCG and Grayscale's market share remains unchanged. This move comes as the company eyes regulatory approval for a Bitcoin ETF.
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Crypto asset manager @Grayscale, the @DCGco-owned asset manager aiming to convert its Grayscale Bitcoin Trust (GBTC) into a spot ETF, is reshuffling its board, and two top DCG execs are leaving. @BrandyBetz reports https://t.co/oXfwUkw83K
Grayscale's profits in 2024 will be about 10% of Blackrock's, maybe more if we rip higher. The board resignations today don't change the economics to DCG or the market share of Grayscale. All they do is pave the way for GBTC's almost certain uplisting. Full send.
Digital Currency Group CEO Barry Silbert leaves Grayscale board as spot bitcoin ETF hopefuls race to the finish line https://t.co/UFmorZPfU3
Grayscale board resignations signal show of ‘best behaviour’ before Bitcoin ETF nod https://t.co/Eyj0Aqxj47