Grayscale CEO Michael Sonnenshein is stepping down after more than a decade at the investment firm. He will be succeeded by Peter Mintzberg in August, who is the current Global Head of Strategy for Goldman Sachs' Asset and Wealth Management division. Yahoo Finance's Jared Blikre and Julie Hyman break down Sonnenshein's instrumental role in Grayscale and the future of its bitcoin ETF (GBTC). For more expert insight and the latest market action, click here to watch this full episode of Asking for a Trend. This post was written by Melanie Riehl
Markets previously had mostly priced in SEC rejections of the proposed funds beginning this week.
Bitcoin and other cryptocurrencies were falling Monday, with the crypto sector’s momentum still highly dependent on flows into exchange-traded funds. The largest cryptocurrency hit a record high near $74,000 in mid-March amid a surge of interest from new spot Bitcoin exchange-traded funds (ETFs) but its price has dropped since then.