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.

Read more: Grayscale Drops XRP From Large Cap Crypto Fund Following Ripple SEC Suit

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