An unexpected resignation took place at Grayscale, one of the most talked about companies in the crypto world, especially in the last 1 year. Michael Sonnenshein, who has been working at the company since 2014 and became CEO in early 2021, left his post. The news was reported by Bloomberg and the Wall Street Journal from the US media.

Sonnenshein will be replaced by Peter Mintzberg, who is responsible for asset management at Goldman Sachs, one of the world’s largest banks.

He also announced the news on his X account

Following the news with Michael Sonnenshein, he posted the following statements on his X account:

“As we position Grayscale for its next phase of growth, excited to welcome Peter Mintzberg as Grayscale’s CEO, effective August 15. Joining from Goldman Sachs, Peter has 20+ years of experience across prominent asset managers, including BlackRock, OppenheimerFunds & Invesco.”

The resignation news came days before the SEC’s critical decision on Ether ETFs. The SEC will make its final decision on Van Eck and ARK Invest’s Ether spot ETF applications this week. The final decision on the Grayscale Ether ETF must be made by June 18…

Grayscale has not yet announced Sonneshein’s resignation. Sonneshein and Grayscale have recently come under criticism for failing to attract the desired investments in Bitcoin spot ETFs, with the majority of investors preferring BlackRock and Fidelity. Grayscale was at the forefront as the firm with the most expensive transaction fees in Bitcoin spot ETFs.