Grayscale refiles Bitcoin ETF application as Barry Silbert departs

Crypto asset manager Grayscale lodged an amended S-3 filing with the United States securities regulator on the same day Barry Silbert — the CEO of its parent company Digital Currency Group — announced his resignation from Grayscale’s board of directors.

Some crypto market commentators speculate that Silbert’s departure could significantly increase the odds that Grayscale will successfully convert its Grayscale Bitcoin Trust (GBTC) into a spot Bitcoin ETF, currently awaiting a decision from the Securities and Exchange Commission.

Lumida Wealth CEO Ramah Luwalia speculates that Silbert’s resignation was likely of his own accord to improve the odds of the ETF approval — due in large part to the SEC’s ongoing investigation into Silbert and DCG.

Adam Cochran, a partner at crypto venture capital firm Cinneamhain Ventures, speculates Silbert’s decision to step down was “for sure an agreement” made between Grayscale and the SEC ahead of the conversion request being approved.

#news #btc #sec #etf #Grayscale

Dec-27-2023 10:33:05 AM