Grayscale's managing director, Michael Sonnenshein, has been appointed as the asset manager's new chief executive officer, Fortune reports.
He will replace Barry Silbert, the CEO of parent company Digital Currency Group (DCG). The "crypto king" will now be able to focus on the conglomerate's new subsidiary that will be announced soon.
Earlier today, U.Today reported that Grayscale had crossed nearly $25 billion worth of cryptocurrencies under management. Its Grayscale Bitcoin Trust alone boasts over $21 billion worth of inflows.
Silbert expects an "eventful" year for the cryptocurrency industry.