Grayscale Investments, which manages cryptocurrency funds totaling more than $25 billion, announced changes to its leadership. The company’s new CEO is Michael Sonnenshein, who had been managing director.
Grayscale Investments names @Sonnenshein CEOhttps://t.co/kuT06jRe8O
— Grayscale (@Grayscale) January 7, 2021
He succeeds Grayscale’s founder Barry Silbert, who will continue to serve as CEO of the parent company — Digital Currency Group (DCG).
Sonnenshein joined Grayscale in 2014 as head of client services, later was appointed head of sales and business development. He held that role until his appointment as managing director in January 2018. Before joining Grayscale, he worked at JPMorgan, Barclays and Bank of America.
According to the press release, the new CEO will set the company\’s strategy, scale the Grayscale business, “investing in people and operational capabilities, and expanding investors’ access to digital currency as an asset class.”
In 2021, the company planned to double its staff and roll out several new products. The Grayscale Bitcoin Trust is currently the most popular among investors, with assets valued at more than $21 billion.
01/06/21 UPDATE: Net Assets Under Management, Holdings per Share, and Market Price per Share for our Investment Products.
Total AUM: $25.2 billion$BTC $BCH $ETH $ETC $ZEN $LTC $XLM $XRP $ZEC pic.twitter.com/BsazOuyiWu
— Grayscale (@Grayscale) January 6, 2021
In 2019, DCG’s fourth subsidiary became the mining company Foundry. Expansion of the partnership with it was announced by Bitmain, the largest ASIC miner producer.
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