Grayscale Investments has expanded its executive team and board as part of its “next phase of growth,” adding four financial industry veterans to key leadership roles and reappointing founder Barry Silbert as board chairman.

The expanded leadership team includes Diana Zhang as chief operating officer, Ramona Boston as chief marketing officer, Andrea Williams as chief communications officer and Maxwell Rosenthal as chief human resources officer.

The newly appointed executives come from traditional finance firm like Bridgewater, Apollo, Goldman Sachs and Citadel.

Grayscale’s founder returns as chairman of the board

Grayscale, founded in 2013 by Barry Silbert, is one of the longest-standing crypto investment companies in the industry. It launched the first publicly traded Bitcoin investment vehicle in the US through Grayscale Bitcoin Trust (GBTC), which began trading publicly on OTC Markets in 2015.

It manages over $35 billion in assets across four crypto ETFs, including newly converted spot Bitcoin (BTC) and Ether (ETH) products.

Silbert’s return as chairman of the board comes when Grayscale is positioning itself more aggressively against traditional finance giants in the crypto ETF race. 

While Grayscale launched the first Bitcoin investment vehicle in the US, it now faces stiff competition from newer entrants like BlackRock and Fidelity, whose lower-fee spot Bitcoin ETFs have quickly gained market share.

“When I founded Grayscale in 2013, we saw an enormous opportunity to pioneer a new model for accessing and investing in digital assets,” Silbert said. “Today, I continue to have deep conviction in the company’s long-term positioning and in the leadership team guiding it forward.”

Currently, Grayscale’s spot bitcoin ETF (GBTC) brings in more revenue than any other Bitcoin ETF, earning $268.5 million annually, thanks largely to its 1.5% fee, which is up to six times higher than competitors like BlackRock’s IBIT or Fidelity’s FBTC.

While its market share has fallen to about 5% of the US spot Bitcoin ETF market, the higher fees means it still outpaces rivals’ revenue, even after over $21 billion in outflows.

Crypto firms turn to Wall Street talent

Several crypto companies are bringing in traditional finance veterans as they prepare for broader mainstream adoption, driven by a wave of pro-crypto legislation and growing regulatory clarity in the US.

In 2024, Kraken bolstered its leadership with hires from traditional finance. Gilles BianRosa, former chief product officer at neobank N26, became chief operating and product officer. Marcus Hughes, with experience at Morgan Stanley and Coinbase, was named global head of regulatory strategy.

Galaxy Digital has also tapped traditional finance talent to support its institutional expansion. In late 2024 it hired Tony Paquette, former chief financial officer at hedge fund Point72 and ex-JPMorgan executive, as its chief financial officer.

The firm also secured a UK derivatives trading license in early 2025 and expanded its London presence, aligning with its strategy to serve global institutional clients.

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