Grayscale, the leading crypto asset manager, has announced the resignation of its CEO, Michael Sonnenshein. According to SEC filings, Peter Mintzberg will take over as CEO, effective August 15.
Sonnenshein, who joined Grayscale in 2014 as an account executive, ascended to the role of CEO in 2021. Reflecting on his tenure, Sonnenshein expressed gratitude for the opportunity to lead Grayscale’s growth into a prominent industry player. He thanked Barry Silbert for his vision and partnership, emphasizing the importance of a smooth transition at a pivotal moment for the crypto asset class.
Grayscale currently manages the largest Bitcoin exchange-traded fund (ETF), with $19.37 billion in assets under management. Despite its success, the company recently shelved plans to launch an ETF for Ethereum futures.
Sonnenshein’s successor, Peter Mintzberg, brings extensive experience to the role. Mintzberg previously served as the global head of strategy at Goldman Sachs Asset and Wealth Management. Prior to that, he spent seven years at BlackRock in various leadership positions, including COO, head of strategy, and director. Mintzberg also held strategic roles at OppenheimerFunds for seven years. He is an alumnus of Harvard and Stanford University.
The transition from Sonnenshein to Mintzberg signifies a new chapter for Grayscale as it navigates the evolving landscape of the crypto industry.