Michael Sonnenshein Steps Down as CEO of Grayscale
Barry Silbert, the head of Digital Currency Group (DCG), has announced a change in management for the management company, Grayscale Investments.
According to the statement, current CEO Michael Sonnenshein will be resigning and will be replaced on August 15th by Peter Mintzberg, who previously worked as the director of global strategy at Goldman Sachs.
“I am honored to join the most talented and innovative team in the business at Grayscale, a leading crypto asset management firm that I have long admired,” said Mintzberg, according to Silbert’s statement.
According to Silbert, the changes in personnel are a part of the next stage of Grayscale’s growth. Sonnenshein expressed his gratitude to the company and to Barry Silbert, the head of DCG. Grayscale is one of the companies that has applied to launch a spot Bitcoin ETF.
In January, new products from 11 issuers received approval. As of April, the assets under management (AUM) of the Grayscale exchange-traded fund had fallen by $16 billion. However, Sonnenshein predicted that outflows from GBTC would stabilize in the same month.
