Grayscale Shakeup: Silbert Resigns as Bitcoin ETF Hopes Grow Amid Legal Concerns
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Barry Silbert resigned as chairman of Grayscale Investments' board, effective January 1st. He is being replaced by DCG's current CFO, Mark Shifke.
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The resignation comes as the SEC may approve spot Bitcoin ETFs in the next two weeks. Grayscale has an application under review.
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Approval of Grayscale's Bitcoin ETF would be a major milestone for the company. Bitcoin ETFs could bring $1 trillion of institutional investments to crypto.
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Silbert's departure may relate to legal troubles involving DCG, Genesis, and Gemini over the fallout from Genesis' bankruptcy.
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Analysts speculate Silbert's resignation could help Grayscale's ETF hopes or signal an impending sale of the company.