Grayscale Investments CEO Michael Sonnenshein has resigned as CEO. The head of Digital Currency Group (DCG), Barry Silbert, wrote about the change in leadership.
2/ I want to thank @Sonnenshein— during his 10 years @Grayscale, Michael guided the firm through exponential growth & oversaw its pivotal role in bringing spot bitcoin ETFs to the market, leading the way for the broader financial industry. We wish him the best in his future endeavors
— Barry Silbert (@BarrySilbert) May 20, 2024
The report states that Michael Sonnenschein worked at Grayscale for 10 years. He played a key role in the company's entry into the spot Bitcoin ETF market, Silbert noted.
The head of DCG expressed his gratitude to Sonnenschein. According to him, the personnel changes are related to the further development of Grayscale.
According to the statement, Sonnenschein will be replaced by Peter Mintzberg, who previously served as director of global strategy at Goldman Sachs. From August 15, 2024, he will officially become the new head of the company.
It is known that the company has been operating on the market since 2013. It manages the Grayscale Bitcoin Trust (GBTC), which converted to a spot Bitcoin ETF in January 2024.
Grayscale's ETF assets under management (AUM) were down $16 billion as of April. In May, Michael Sonnenschein said the company was optimistic about the approval of spot Ethereum ETFs.
Source: Cryptocurrency
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