Demetrios Christou, general manager of finance at DigitalX, was appointed as interim chief executive from 3 March.
The firm said Christou had been instrumental in the implementation of its finance strategy over the past six months, which led to DigitalX reducing its overall costs by 3 per cent during the first half-year period of FY25.
He takes over from Greg Dooley who has fulfilled his six-month commitment as interim CEO. As a result, Dooley has stepped down from the executive position but will continue as a non-executive director of the company.
“Dooley has overseen significant change in the company's business during his six-month tenure, and the board is grateful for his stewardship during this time,” the firm stated.
Meanwhile, DigitalX said it will continue to evaluate candidates in its search for a permanent chief executive to oversee the company.
“The board continues to assess candidates for the position of permanent CEO but is steadfast in its view that no appointment will be made until the board is comfortable that the person appointed can execute the business plan,” it explained.
“In the interim, the board has great faith in the DigitalX team and the manner in which it has worked together over the last six months that has seen a significant increase in revenue, a reduction in expenses and the laying of the foundation for a strong future ahead.”
DigitalX’s previous CEO in a permanent capacity was Lisa Wade, who held the executive role for nearly three years from February 2022 to September 2024.
Last July, the digital investment manager launched its DigitalX Bitcoin ETF (BTXX) on the ASX in what was described as a “watershed moment” for the firm.
Speaking to InvestorDaily prior to its launch, Wade emphasised that BTXX was created with a passion to bring to market a product that was “for the people”.
“We’re a microcap, we’re an Australian company, we’ve made it as cheap as physically possible so that everybody can feel like they have ownership over this bitcoin on the ASX. We’ll do the heavy lifting and the work, but we really wanted it to be something for everybody,” she said in July 2024.
“We’ve built an education centre that goes alongside this … So, I really do think of it kind of like as the people’s bitcoin product.”
