Digital currency asset manager, Grayscale Investments, has announced that Michael Sonnenshein has been named as the company’s Chief Executive Officer.
Sonnenshein has been working for Grayscale for seven years, the last three of which have been in the role of Managing Director.
He takes the reigns from Barry Silbert, who will take a step back from the role with immediate effect.
Silbert will continue as the CEO of Grayscale’s parent company, Digital Currency Group.
“Grayscale has been at the vanguard of bringing digital currencies to the mainstream, and I could not be more proud of the results the team has achieved since the firm was founded,” said Silbert.
“When Michael joined the firm seven years ago, we had one product and $60 million in assets under management.
To my team, and @Grayscale's investors, partners, and friends…https://t.co/dSo2e0s6fb
Thank you all for entrusting me with this incredible responsibility and for your faith in my leadership.
Let's do this… #GoGrayscale
— Sonnenshein (@Sonnenshein) January 7, 2021
“Today, investors from around the world can access 10 products, and the firm is managing more than $20 billion in assets.
“That accomplishment would not have been possible without Michael’s unrelenting passion for our business and his commitment to making the digital currency asset class available to a broader base of investors.”
Sonneshein’s role as CEO will be focused on aligning the strategic direction of the firm as well as scaling the business by investing in its people and operational capabilities.
For more news, guides and cryptocurrency analysis, click here.
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.