Edward McGee
About Edward McGee
Edward McGee, 41, is Chief Financial Officer (CFO) of Grayscale Investments Sponsors, LLC (the “Sponsor”) since January 2022 and has served as a director of the Sponsor since January 2024; following the October 22, 2025 reorganization, he is a director of Grayscale Investments, Inc. (the new parent of the Sponsor) as well . He holds a B.S. in accounting (University of Tampa) and a Master of Accountancy in Financial Accounting (Rutgers), and is a CPA licensed in New York . The Trust does not have officers or employees; all management functions are conducted by the Sponsor, limiting disclosure of executive performance metrics (TSR, revenue/EBITDA growth) and compensation at the registrant level .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Grayscale Investments Sponsors, LLC | CFO | Jan 2022 – present | Principal financial and accounting officer for the Trust; signs SEC filings and oversees financial reporting controls . |
| Grayscale Investments Sponsors, LLC | Vice President, Finance & Controller | Jun 2019 – Jan 2022 | Led finance and controllership for Sponsor entities supporting multiple digital asset investment products . |
| Goldman, Sachs & Co. | Vice President, Accounting Policy | 2014 – 2019 | Supported SEC financial reporting; provided U.S. GAAP interpretation/policy for Special Situations Group, Merchant Banking Division, and Urban Investments Group . |
| Ernst & Young | Auditor | 2011 – 2014 | Provided assurance services to publicly listed companies . |
External Roles
| Organization | Role | Years | Notes / Governance |
|---|---|---|---|
| GSO Intermediate Holdings Corporation (“GSOIH”) | Director | Jan 2025 – Oct 22, 2025 | Pre‑reorganization board overseeing Sponsor affairs; Audit Committee exists at Sponsor; committee membership not disclosed . |
| Grayscale Investments, Inc. | Director | Oct 22, 2025 – present | Post‑reorganization board; Barry Silbert is Chair; board considering adding independent directors . |
Fixed Compensation
| Component | Disclosure |
|---|---|
| Base salary | Not disclosed in Trust filings (Item 11 Executive Compensation: “Not applicable”) . |
| Target bonus % | Not disclosed (Trust filings do not present executive pay) . |
| Actual bonus paid | Not disclosed . |
| Perquisites | Not disclosed . |
Performance Compensation
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Not disclosed in Trust/Sponsor filings | — | — | — | — | — . |
Equity Ownership & Alignment
| Holder | Shares Beneficially Owned | % of Shares Outstanding | As‑of Date |
|---|---|---|---|
| Digital Currency Group, Inc. (incl. DCG International & Grayscale Securities) | 65,753 | 4.83% | Nov 18, 2024 . |
| Edward McGee | “*” (less than 1%) | “*” (less than 1%) | Nov 18, 2024 . |
| Shares outstanding (context) | 1,389,200 | — | Record date Sept 25, 2025 . |
Notes:
- The Trust reports that no person, to the Sponsor’s knowledge, owns more than 5% beyond DCG at FY2024; executives/directors (incl. McGee) each hold under 1% .
- Pledging/hedging, ownership guidelines, and compliance status are not disclosed in Trust filings .
Employment Terms
| Term | Disclosure |
|---|---|
| Employment start date (CFO) | January 2022 . |
| Director appointment | January 2024 (Sponsor); continues as director post‑Oct 22, 2025 at Grayscale Investments . |
| Contract term/expiration | Not disclosed . |
| Severance/change‑of‑control | Not disclosed . |
| Non‑compete / non‑solicit | Not disclosed . |
| Clawback provisions | Not disclosed . |
| Deferred compensation/pension/SERP | Not disclosed . |
Board Governance
- Dual‑role: McGee serves simultaneously as CFO and director of the Sponsor (and of Grayscale Investments after Oct 22, 2025); independence status is not disclosed .
- Chair: Barry Silbert is Board Chair at Grayscale Investments post‑reorganization; board may expand to include independent directors .
- Committees: The Sponsor has an Audit Committee overseeing financial reporting; committee rosters and chair roles are not disclosed .
- Meeting attendance, executive sessions, lead independent director: Not disclosed .
Related Party & Structural Governance
- Sponsor Fee frequency change: Proposal 2 amends Trust Agreement to make the Sponsor’s Fee payable daily in arrears (instead of monthly), with amount unchanged given daily accrual; Sponsor retains discretion on timing of XLM withdrawals to pay fees .
- Omnibus accounts: Proposal 3 allows a portion of Trust estate to be held in omnibus accounts to facilitate creations/redemptions, with risks if prime broker becomes insolvent .
- Amendment authority: Proposal 4 allows Sponsor to restate/amend/supplement the Trust Agreement without shareholder consent, subject to 20‑day notice for changes materially adverse to shareholders and tax‑status safeguards (opinion of Tax Advisor or conditions); filings explicitly note potential shareholder disenfranchisement risk .
- DCG ownership & conflicts: DCG (Sponsor’s indirect parent) held ~4.83% of Trust Shares at FY2024; filings highlight potential conflicts, including DCG’s authorization to purchase Trust Shares and the Sponsor’s ability to favor its own interests absent bad faith .
Performance & Track Record
- Controls oversight: McGee signed SOX 302 certifications and the Trust’s periodic reports as principal financial and accounting officer, affirming responsibilities for disclosure controls and internal control over financial reporting .
- Product operations: Trust offers and periodically creates Shares; 1,389,200 shares outstanding around Sept–Oct 2025 (context for ownership and votes) .
- TSR/revenue/EBITDA under tenure: Not disclosed at the registrant level; the Trust does not report executive compensation or corporate performance metrics by executive .
Compensation Structure Analysis
- Lack of disclosed cash/equity pay: The registrant’s Item 11 states executive compensation is “Not applicable,” so base/bonus/equity awards, vesting, and pay‑for‑performance linkages for McGee are not available in Trust filings .
- Sponsor economics: Proposal 2’s daily Sponsor Fee payment cadence and Proposal 4’s streamlined amendment authority increase Sponsor operational flexibility/cash flow timing but do not directly disclose McGee’s compensation terms .
Equity Ownership & Alignment Details
| Aspect | Disclosure |
|---|---|
| Vested vs. unvested shares | Not disclosed for McGee . |
| Options (exercisable/unexercisable) | Not disclosed . |
| Shares pledged as collateral | Not disclosed . |
| Ownership guidelines & compliance | Not disclosed . |
Director Compensation (for McGee as director)
| Component | Disclosure |
|---|---|
| Cash retainer / meeting fees | Not disclosed in Trust filings . |
| Committee membership/chair fees | Not disclosed . |
| Equity grants / DSUs | Not disclosed . |
Expertise & Qualifications
| Credential | Detail |
|---|---|
| Education | B.S. Accounting (University of Tampa); M.Acc. Financial Accounting (Rutgers) . |
| Licensure | CPA, State of New York . |
| Technical | U.S. GAAP policy at Goldman Sachs; SEC reporting expertise; audit background . |
Investment Implications
- Governance structure places McGee as both CFO and director of the Sponsor/Grayscale Investments, increasing influence over financial policy and operations but with independence status not disclosed; filings note consideration to add independent directors, which could strengthen governance checks .
- Limited disclosure on executive compensation, employment terms, and ownership guidelines restricts pay‑for‑performance assessment; monitor Sponsor‑level disclosures and 8‑Ks for any Item 5.02 updates or proxy‑like materials that might detail executive arrangements .
- Structural changes (daily Sponsor Fee payments, omnibus accounts, expanded amendment authority) elevate Sponsor operational flexibility and potential fee cash‑flow timing without shareholder votes, underscoring the need to track Trust Agreement amendments and related 8‑Ks for signaling changes to product economics/governance .
- DCG’s ownership and broader affiliate footprint create potential conflicts of interest identified by filings; traders and portfolio managers should watch DCG and affiliate transactions, and prime broker/custody updates for flow and liquidity dynamics around creations/redemptions .