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Crypto Investment Firm Grayscale Names New CEO, Plans to Double Staff in 2021

Grayscale's managing director, Michael Sonnenshein, has now been appointed CEO.

Jan 7, 2021 at 4:07 p.m. UTC
Updated Sep 14, 2021 at 10:52 a.m. UTC

Digital asset manager Grayscale Investments has named Michael Sonnenshein, currently the firm's managing director, as CEO.

  • Sonnenshein has been with Grayscale for seven years and will now take over the CEO role from Grayscale’s founder, Barry Silbert, according to an announcement Thursday.
  • Prior to his time at Grayscale, Sonnenshein held roles at JPMorgan, Barclays and Bank of America.
  • Grayscale's assets under management has grown from $2 billion at the start of 2020 to over $20 billion today, making it one of the fastest-growing asset managers of all time, said Silbert.
  • Silbert will continue as CEO of Grayscale’s parent company, Digital Currency Group, the parent company of CoinDesk.
  • As CEO, Sonnenshein is expected to guide Grayscale's strategic direction and help scale the business. 
  • As part of that effort, the company expects to double its staff in 2021, as well as roll out new investment products.

DISCLOSURE

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

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