Bitcoin ETF

Bitcoin

<ul>
 <li>The Harvard alumnus had a stint at Goldman Sachs prior to joining the company.</li>
 <li>The GBTC spot Bitcoin ETF, which Grayscale offers, is seeing heavy withdrawals.</li>
</ul>
Peter Mintzberg has been named CEO of Grayscale Investments, an American asset management giant. Following Michael Sonnenshein’s departure as CEO, this hiring is seen as a watershed moment for the company. <a href="https://thenewscrypto.com/grayscale-investments-ceo-michael-sonnenshein-steps-down/" target="_blank" rel="noopener noreferrer nofollow">Sonnenshein</a> oversaw the firm’s procurement of the spot Bitcoin ETF approval, and now Mintzberg is responsible for expanding the product.
Remarkably, the previous chief executive officer of the company stepped down around three months ago, but no one knows why. The new chief executive officer has been in the financial industry for a number of years and has a vast history. The Harvard alumnus had a stint at <a href="https://www.goldmansachs.com/about-us/" target="_blank" rel="noopener noreferrer nofollow">Goldman Sachs</a> prior to joining the company.
He was the financial institution’s global head of strategy for almost four years. At <a href="https://thenewscrypto.com/blackrock-and-nasdaq-file-for-options-trading-on-spot-ethereum-etf/" target="_blank" rel="noopener noreferrer nofollow">BlackRock</a>, Mintzberg served as both chief operating officer and head of strategy. The Digital Currency Group subsidiary, which has had tremendous difficulties in the highly competitive spot crypto market, may be able to finally succeed under his guidance.
<h3 class="wp-block-heading" id="h-huge-task-ahead">Huge Task Ahead</h3>
The GBTC spot Bitcoin ETF, which <a href="https://www.grayscale.com/" target="_blank" rel="noopener noreferrer nofollow">Grayscale</a> offers, is seeing heavy withdrawals. Compared to other spot Bitcoin ETFs, the outflows have been growing steadily over the last several months. Earlier this month, the Ethereum ETF’s outflow surpassed $2 billion, while the GBTC product’s outflow surpassed 19,548 BTC.
The company’s ETHE broke its 19-day outflow only recently. Because of this, Ether ETFs saw a big improvement. A possible change in investor sentiment was indicated by the fact that the ETF did not see any inflow or outflow on August 12. Many market watchers felt that GBTC’s outflows and drop in investor interest were caused in part by its exorbitant sponsor fee.
Highlighted Crypto News Today:
<a href="https://thenewscrypto.com/floki-becomes-official-cryptocurrency-partner-of-nottingham-forest-f-c/" target="_blank" rel="noopener noreferrer nofollow">Floki Becomes Official Cryptocurrency Partner of Nottingham Forest F.C.</a>

Grayscale Names Peter Mintzberg CEO Amid Bitcoin ETF Outflows

Table of Contents

TheNewsCrypto

Other articles published on Aug 15, 2024

Top 5 Fee-Generating Blockchains in the Past 90 Days

Crypto: Fall in Active Addresses on Cardano, is ADA in Danger? Should we be Worried?

MultiversX to Enhance On-Chain User Experience with Passkeys in Upcoming Spica Upgrade

Binance Hit with $86M Tax Demand by Indian Authorities Over GST Registration

Flare sees gains as transactions rise, falling wedge pattern forms

Cardano’s Hoskinson Names Blockchain Use Cases for AI

Join our free newsletter for daily crypto updates!