Grayscale has submitted a revised S-3 document to the US Securities Regulatory Commission. On the same day, Barry Silbert, CEO of its parent company Digital Money Group, announced his resignation from the Grayscale board of directors. Ramah Luwalia, CEO of Lumida Wealth, speculated that Silbert's resignation was likely due to his own will to increase the chances of ETF approval, largely due to the SEC's investigation into Silbert and DCG.

Adam Cochran, partner at cryptocurrency venture capital firm Cinneamhain Ventures, speculated that Silbert's decision to resign was a "definitely agreed upon agreement" between Grayscale and the SEC before the transition request for approval.

Silbert's departure was mentioned in the 8-K document submitted to the SEC on December 26, and the company announced that Mark Shifke, CFO of DCG, would replace Silbert as chairman of the Grayscale board of directors.