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Grayscale chief Michael Sonnenshein resigns, to be succeeded by Goldman exec
Michael Sonnenshein has stepped down as chief of Grayscale Investments, the issuer behind the largest spot bitcoin fund best known by its ticker, GBTC. Why it matters: Prior to bitcoin ETF approvals in January, The Grasycale Bitcoin trust had been the only game in town since 2013 — but it has started buckling under new competitive pressure since its conversion, hemorrhaging assets and suffering several consecutive weeks of outflows. Incoming Goldman Sachs executive Peter Mintzberg will step into the role in August, according to a press release; Mintzberg will also join Grayscale's board of directors. The big ... (full story)