Grayscale CEO Michael Sonnenshein Resigns

The crypto asset management firm Grayscale has seen its CEO, Michael Sonnenshein, officially resign from his position with the company. Indeed, the firm has announced Sonnenshein’s departure after a decade-long tenure as its chief executive.

According to a Wall Street Journal report, Sonnenshien will be succeeded by Peter Mintzberg, who is currently the global head of strategy for Goldman Sachs. The report states that Mintzberg will begin his tenure with Grayscale beginning in August.

Also Read: Grayscale Bitcoin ETF Breaks Record With 72-Day Outflow Streak

Crypto Asset Manager Grayscale CEO Resigns

One of the firms behind the years-approved Spot Bitcoin ETFs, Grayscale, has seen its long-time CEO Michael Sonnenshein resign. Indeed, Sonnenshein is set to depart the firm from his executive position, with the move officially coming into effect in August 2024.

The firm has already identified a successor to replace Sonnenshein, looking to Goldman Sachs’s executive, Peter Mintzberg. Over more than 20 years, Mintzberg has worked with a plethora of prominent Wall Street firms, like BlackRock and the aforementioned Goldman Sachs.

Also Read: Grayscale CEO: Spot Ethereum ETF is a “Matter of When” Not If

The firm stated that Sonnenshein’s resignation arrived to give the executive a chance to pursue other interests. 2024 had proven massively important for the digital asset sector, and Graycslae played a large role in that. Specifically, the firms received approval of the previously mentioned Spot Bitcoin ETFs in January.

It was recently reported that Grayscale’s Spot Bitcoin ETF (GBTC) oversaw more than $18 billion in assets. Moreover, the month of May proved a turning point, with the asset seeing an inflow of more than $31.6 million on the 17th alone. That showcased a shift for the Grayscale-issued investment product that has not fared as well as its competitors.