Grayscale Investments LLC is about for an essential management change as CEO Michael Sonnenshein declares his departure.
Barry Silbert, the founder and CEO of Digital Forex Group (DCG), Grayscale’s father or mother firm, confirmed that Sonnenshein will likely be succeeded by Peter Mintzberg, a seasoned government with a background at Goldman Sachs.
Mintzberg will assume the position beginning August 15.
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Established in 2013, Grayscale has change into the world’s largest crypto asset supervisor by belongings beneath administration (AUM) as of March 2024.
Silbert expressed gratitude for Sonnenshein’s decade-long management on the firm, highlighting his position in its fast progress and vital contribution to introducing spot Bitcoin exchange-traded funds (ETF).
Grayscale has been on the forefront of the Bitcoin ETF market within the US, having issued its Grayscale Bitcoin Belief (GBTC) ETF on January 11. With a market share of 34.9%, Grayscale’s Bitcoin Belief (GBTC) is the most important ETF by way of on-chain Bitcoin holdings, managing belongings price $19.3 billion.
BlackRock’s iShares Bitcoin ETF (IBIT) is the second-largest available in the market, with Bitcoin holdings valued at $18.4 billion, in line with Dune knowledge.
Grayscale’s management change marks a brand new chapter, persevering with the agency’s legacy as a frontrunner within the crypto asset administration and Bitcoin ETF market.
In different information, the most important asset-holding financial institution within the US, JPMorgan, has just lately expanded its crypto portfolio by investing in 5 Bitcoin ETFs, together with GBTC.
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