Grayscale CEO Michael Sonnenshein Leaves Company

According to an announcement from the company, Michael Sonnenshein, CEO of crypto asset manager Grayscale Investments, has resigned from his position to pursue other interests.

The decision for Sonnenshein’s departure is still unclear, but the Wall Street Journal has reported that there has been a significant decline in investors for Grayscale’s spot bitcoin fund GBTC.

Effective August 15, 2024, Peter Mintzberg will take over as CEO and join Grayscale’s board of directors. Mintzberg previously held the position of Global Head of Strategy for Asset and Wealth Management at Goldman Sachs and has extensive experience in strategy roles at other major financial firms.

Founder and CEO of Grayscale’s parent company DCG, Barry Silbert, expressed excitement for Mintzberg to lead Grayscale’s growth.