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Grayscale CEO Michael Sonnenschein has stepped down, effective August 15, with Peter Mintzberg appointed to replace him.
Sonnenschein joined the company as an account executive in 2014, before working his way up to CEO in 2021.
“It's been an honor and a privilege to work with such smart and passionate people to grow Grayscale into an industry titan over the past decade,” Sonnenschein said in a release. “I want to thank Barry Silbert for his vision and partnership, and for putting me in charge of the Greyscale business. The crypto asset class is at an important checkpoint and this is the perfect time for a smooth transition.
Grayscale has the largest Bitcoin exchange-traded fund (ETF) with $19.37 billion under management. The asset manager recently abandoned plans to offer an ETF for Ethereum futures.
Sonnenschein's replacement, Mintzberg, is the former head of global strategy at Goldman Sachs Asset and Wealth Management. Prior to this position, he worked for seven years as COO, Head of Strategy and Director at BlackRock and another seven years at Oppenheimer Funds. Mintzberg studied at Harvard and Stanford University.
Edited by Stacy Elliott.
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