Grayscale Investments has expanded its executive team and board of directors as part of its "next phase of growth," adding four seasoned financial industry professionals to key leadership positions and reappointing founder Barry Silbert as chairman of the board.
The expanded leadership team includes Chief Operating Officer Diana Zhang, Chief Marketing Officer Ramona Boston, Chief Communications Officer Andrea Williams, and Chief Human Resources Officer Maxwell Rosenthal.
The newly appointed executives come from traditional financial firms such as Bridgewater, Apollo, Goldman Sachs, and Citadel.
Founded in 2013 by Barry Silbert, Grayscale is one of the oldest cryptocurrency investment companies in the industry. The company launched the first publicly traded Bitcoin investment vehicle in the U.S. through the Grayscale Bitcoin Trust (GBTC), which began trading on the over-the-counter market in 2015.
The company manages over $35 billion in assets, covering four cryptocurrency ETFs, including newly converted spot Bitcoin (BTC) and Ethereum (ETH) products.
As Silbert returns to the role of chairman, Grayscale is taking a more aggressive stance against traditional financial giants in the cryptocurrency ETF race.
While Grayscale launched the first Bitcoin investment vehicle in the U.S., it now faces fierce competition from newcomers like BlackRock and Fidelity, whose low-fee spot Bitcoin ETFs have quickly gained market share.
Silbert stated, "When I founded Grayscale in 2013, we saw a tremendous opportunity to pioneer new ways to access and invest in digital assets. Today, I remain confident in the company's long-term positioning and the leadership team that is driving the company forward."
Currently, Grayscale's spot Bitcoin ETF (GBTC) generates more revenue than any other Bitcoin ETF, with annual revenue reaching $268.5 million, primarily due to its 1.5% fee, which is six times higher than competitors like BlackRock's IBIT or Fidelity's FBTC.
Although its market share has dropped to about 5% of the U.S. spot Bitcoin ETF market, the higher fees mean it still outperforms competitors in terms of revenue, even after over $21 billion in outflows.
Several cryptocurrency companies are bringing in seasoned professionals from traditional finance to prepare for broader mainstream adoption, thanks to a wave of supportive cryptocurrency legislation and an increasingly clear regulatory environment in the U.S.
In 2024, Kraken strengthened its leadership by hiring traditional finance talent. Former N26 Chief Product Officer Gilles BianRosa became Chief Operating and Product Officer. Marcus Hughes, who has experience at Morgan Stanley and Coinbase, was appointed as Global Head of Regulatory Strategy.
Galaxy Digital is also leveraging traditional finance talent to support its institutional expansion. By the end of 2024, the company hired former Point72 Chief Financial Officer and ex-JP Morgan executive Tony Paquette as Chief Financial Officer.
The company also obtained a derivatives trading license in the UK in early 2025 and expanded its London operations, aligning with its strategy to serve global institutional clients.
Related: Ray Dalio sells last stake in Bridgewater after predicting debt collapse
Original article: “Grayscale Founder Barry Silbert Returns as Chairman, Adds Wall Street Veterans”
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