How Grayscale became the world’s largest asset manager for digital currencies

This episode is with Michael Sonnenshein – CEO at Grayscale Investments, the world’s largest asset manager for digital currency with more than $40 billion assets under management. In this episode we talk about how to build a market-leading investment fund.


You’re listening to The Growth Manifesto Podcast, a Zoom video series brought to you by Webprofits – a digital growth consultancy that helps global and national businesses attract, acquire, and retain customers through digital marketing.

Hosted by Alex Cleanthous.


  • 00:01:22 Michael Sonnenshein’s introduction to the Growth Manifesto Podcast
  • 00:02:09 Can you give a quick overview of Grayscale?
  • 00:05:06 How was it like when Grayscale initially launched?
  • 00:10:29 What was the first big challenge when you first started Grayscale?
  • 00:13:15 What was it like converting the fund before? What was your approach?
  • 00:15:24 When did people start coming in to invest on their own instead of you approaching them?
  • 00:18:15 How did you get through during the early years of Cryptocurrency?
  • 00:20:28 What happened to the business that led you to start the second fund?
  • 00:22:31 How much harder or easier to launch the second product compared to the first one?
  • 00:24:16 What is the process of transitioning to exchange trade funds right now?
  • 00:29:34 What is your approach or strategy?
  • 00:31:19 What are your considerations in choosing the next product?
  • 00:33:48 What does a typical week look like for you?
  • 00:36:30 What time do you wake up in the morning?
  • 00:36:54 What is your best advice for people who are interested in launching an investment fund?
  • 00:37:44 If you ever start again, what would you have done differently?
  • 00:39:23 Where do you see bitcoin and ethereum in 2 years?

Alex Cleanthous

Alex Cleanthous

Director of Strategy + Innovation at Webprofits
Alex Cleanthous is an entrepreneur, writer, technologist, and marketing leader. He is Co-Founder of Webprofits, Australia’s largest private digital consultancy. With more than 20 years experience in the digital space, Alex stays at the forefront of digital innovation, strategy, and execution identifying new markets, platforms, and tools to keep pace with the exponential expansion of technology.

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