---
schema_version: "secwatch.filing_event.v1"
accession: "0000950103-25-004588"
form_type: "8-K"
ticker: "GBTC"
cik: "0001588489"
company_name: "Grayscale Bitcoin Trust ETF"
filed_at: "2025-04-09T23:59:59+00:00"
generated_at: "2026-05-23T18:20:08.348982+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Grayscale appoints Diana Zhang as COO, effective May 6; Hugh Ross steps down

## Summary
- Diana Zhang named COO of Grayscale Investments, effective May 6, 2025, succeeding Hugh Ross.
- Zhang brings 18+ years of experience, including executive roles at Bridgewater Associates and BlockTower Capital.
- Hugh Ross, COO since 2021, will assist transition until his departure by May 31, 2025.
- Zhang will report to CEO Peter Mintzberg and help expand institutional partnerships.

## SEC filing metadata
- accession: 0000950103-25-004588
- form_type: 8-K
- ticker: GBTC
- cik: 0001588489
- company_name: Grayscale Bitcoin Trust ETF
- filed_at: 2025-04-09T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1588489/000095010325004588/0000950103-25-004588-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1588489/000095010325004588/dp227434_8k-gbtc.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950103-25-004588
- JSON: https://secwatch.observer/filing/0000950103-25-004588.json
- Plain text: https://secwatch.observer/filing/0000950103-25-004588.txt

## Key facts
- Executive change
  Diana Zhang was appointed as Chief Operating Officer at Grayscale Bitcoin Trust ETF.
  - Action: appointed
  - Role: Chief Operating Officer
  source text: the appointment of Diana Zhang to serve as the new Chief Operating Officer of Grayscale Operating, LLC, effective May 6, 2025.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1588489/000095010325004588/0000950103-25-004588-index.htm
- Executive change
  Hugh Ross departed as Chief Operating Officer at Grayscale Bitcoin Trust ETF.
  - Action: stepped down
  - Role: Chief Operating Officer
  source text: Ms. Zhang will succeed Hugh Ross, the current Chief Operating Officer of Grayscale Operating, LLC, who has decided to step down from his position and is expected to remain with Grayscale to assist with the transition of his responsibilities until his departure on or prior to May 31, 2025.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1588489/000095010325004588/0000950103-25-004588-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.