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Grayscale Bitcoin Mini Trust ETF (NYSEARCA:BTC) reported Friday that its sponsor, Grayscale Investments Sponsors, LLC, underwent a corporate reorganization on Wednesday. According to a statement based on a Securities and Exchange Commission filing, the reorganization involved changes to the ownership and management structure of the sponsor and its parent entities.
The filing states that GSO Intermediate Holdings Corporation, which previously managed Grayscale Operating, LLC, transferred a portion of its membership units to newly incorporated Grayscale Investments, Inc. In turn, Grayscale Investments, Inc. became the sole managing member of Grayscale Operating, LLC, which is the sole member of Grayscale Investments Sponsors, LLC.
As part of the reorganization, DCG Grayscale Holdco, LLC—the sole stockholder of Grayscale Investments, Inc.—elected a board of directors for Grayscale Investments, Inc. The board consists of Barry Silbert, Mark Shifke, Simon Koster, Peter Mintzberg, and Edward McGee, who previously served as directors of GSO Intermediate Holdings Corporation. Barry Silbert was named chairperson of the board. Peter Mintzberg and Edward McGee also continue to hold officer roles at the sponsor.
All the involved entities, including DCG Grayscale Holdco, Grayscale Investments, GSO Intermediate Holdings, Grayscale Operating, and Grayscale Investments Sponsors, are consolidated subsidiaries of Digital Currency Group, Inc.
The company stated in the filing that it does not expect the reorganization to have any material impact on the operations of the trust.
This article is based on a statement in a press release filed with the SEC.
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