Michael Sonnenshein, CEO of Grayscale Investments has retired.
The Wall Street Journal broke the story Monday. It said that Grayscale would hire a former Goldman Sachs employee as its new CEO. Grayscale confirmed this news upon being contacted.
“Peter is an exceptional strategic leader with global expertise across the most prominent asset managers, which are critical ingredients as we position Grayscale for its next phase of growth,” Digital Currency Group CEO Barry Silbert stated in a press release.
Peter Mintzberg was the Head of Strategy for Goldman’s Asset Management Division and worked also at BlackRock, Invesco and BlackRock.
Sonnenshein wrote on X in a recent post that he will be leaving Grayscale. “a deep gratitude” And said he is “excited for what’s next.” At this point, it is unclear what will happen to the former executive.
Changes are expected in the week of the decision to the ETF application. Grayscale applied to convert their ether trust into ETFs last year.
Analysts anticipate that SEC denies the ETFs ether later this week. Grayscale retracted its ether ET futures application in the first week of October.
Sonnenshein said, according to reports, that his company wants to put its focus on spot products during an event hosted by the Financial Times earlier this month.
Grayscale bitcoin ETF also continues to experience outflows. GBTC charges the highest fees of all the spot bitcoin ETFs that were approved in January. BlackRock also has experienced significant growth in this time period.
CoinShares’ report for Monday morning shows that the company had a total inflow of 18 million dollars last week.
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