Nearly seven months after departing Grayscale, Sonnenshein joined Securities.
Michael Sonnenshein, who previously served as the CEO of Grayscale Investments, has been appointed as the chief operating officer of Securities, a tokenization platform.
Sonnenshein joined the company on December 9, according to an announcement, several months after he resigned from the asset management firm in May 2024.
Sonnenshein has been providing guidance to blockchain companies and fintechs for the past few months. According to his LinkedIn profile, he has served as an adviser for five organizations: Scholars of Finance, Stocktwits, Arch, Sodot, and Aptos Labs.
In January, the Grayscale Bitcoin Trust (GBTC), the first publicly traded Bitcoin fund, was converted into an exchange-traded fund (ETF) following approval by the United States Securities and Exchange Commission (SEC). Sonnenshein is the man behind this development.
Several months prior, in August 2023, Grayscale prevailed in a legal dispute with the Securities and Exchange Commission (SEC) regarding the conversion of its trust into an exchange-traded fund (ETF). SEC Chair Gary Gensler subsequently acknowledged that the court ruling was essential for the Bitcoin fund’s debut on Wall Street.
In 2024, Securities has become one of the most prominent participants in the tokenisation market. To name a few, it has formed significant partnerships with Hamilton Lane, Wormhole, Elixir, Ethena, and BlackRock.
The organization offers tools and services for the issuance, administration, and trading of tokenized securities, including equities and bonds. BlackRock, Aptos Labs, Paxos, and Circle each contributed $47 million to the round in May.
Sonnenshein will concentrate on the development of relationships with asset managers, as well as marketing, sales, and distribution, in his new position. As per The Wall Street Journal, the organization was in search of an executive who was proficient in both conventional financial services and digital assets.
“I am delighted to be joining Securities at this critical juncture for the company and the industry, as there is an immense demand for tokenization,” Sonnenshein stated in a statement.
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