Grayscale Investments, the world’s largest crypto asset manager, has announced that Peter Mintzberg will assume the role of Chief Executive Officer effective August 15, 2024. The news follows the stepping down of Michael Sonnenshein.
Grayscale Undergoing Leadership Transition
Mintzberg as the CEO will also join Grayscale’s Board of Directors. In the interim, Edward McGee, Grayscale’s Chief Financial Officer, will serve as the principal executive officer until Mintzberg officially takes over.
Mintzberg is bringing on board over 20 years of experience from leading asset management firms. He has held key C-suite roles in developing and executing growth strategies. His most recent position was as Global Head of Strategy for Asset and Wealth Management at Goldman Sachs. Other institutions he has worked with include BlackRock, Oppenheimer Funds, and Invesco.
Mintzberg who started his career at McKinsey & Co. in New York, San Francisco is an expert in financial services and also possesses a background in strategy M&A and investor relations.
Mintzberg’s Background and Michael’s Achievements
Barry Silbert, Founder and CEO of Grayscale’s parent company, the Digital Currency Group (DCG), expressed enthusiasm and confidence in Mintzberg’s capabilities to lead the firm.
According to him, Mintzberg’s strategic leadership experience and global expertise hold promise for Grayscale, particularly as it positions for the next phase of growth.
Silbert also commended Michael for his stewardship term between 2021 and 2024 at Grayscale. Michael as CEO led Grayscale from $60 million to approximately $30 billion in Assets Under Management (AUM).
He was in charge through the legal tussle with the Securities and Exchange Commission and enabled Grayscale to uplist the first spot Bitcoin ETF on NYSE.
Mintzberg himself expressed excitement at the privilege of working with Grayscale. He described the team as talented, and maintaining the time was auspicious, particularly given the unprecedented momentum in the asset class. Mintzberg is taking over after Grayscale Investments has withdrawn the 19b-4 for its Ethereum Futures ETF.
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