Barry Silbert Returns as Grayscale Chair With IPO Plans Lurking

Grayscale Investments has reinstated founder Barry Silbert as chairman of its board, marking a pivotal leadership move as the firm prepares for its next phase of growth. The digital asset manager also announced the addition of four senior executives to its leadership team following a confidential IPO filing in the United States.

Joining Grayscale’s C-suite are:

• Diana Zhang as Chief Operating Officer (formerly BlockTower Capital and Bridgewater Associates)
• Ramona Boston as Chief Marketing Officer (formerly Apollo Global Management)
• Andrea Williams as Chief Communications Officer (formerly Oaktree and Goldman Sachs)
• Maxwell Rosenthal as Chief Human Resources Officer (formerly Citadel)

All four executives will report to CEO Peter Mintzberg, who said the new team blends top-tier traditional finance experience with a vision for digital asset innovation.

Silbert, who founded Grayscale in 2013, replaces Mark Shifke, who joined the board in 2023 amid regulatory scrutiny targeting Grayscale’s parent company Digital Currency Group (DCG) and its lending subsidiary Genesis. Shifke will remain on the board.

Silbert’s return follows the resolution of several legal challenges linked to the Genesis and Gemini Earn fallout and comes at a time when Grayscale is expanding its product line and eyeing public market entry. The firm currently manages over $35 billion in digital assets and offers a wide array of crypto investment products, including spot Bitcoin and Ethereum ETFs.

“I’m honored to rejoin the Grayscale board at a defining moment,” said Silbert. “We saw an enormous opportunity to pioneer a new model for accessing and investing in digital assets, and that opportunity has never been more compelling.”

Grayscale’s board now consists of five members, with plans to add independent directors as it scales. The leadership overhaul signals a strategic shift toward institutional maturity and public market readiness, positioning the company at the forefront of the evolving crypto investment landscape.

IPO on the Horizon

Grayscale has confidentially filed for an initial public offering (IPO) in the United States, signaling a major shift as it seeks to transition from a privately held asset manager to a publicly traded company. The filing, submitted to the U.S. Securities and Exchange Commission (SEC) in July 2025, comes on the heels of a transformative period for the firm, including the successful conversion of its flagship GBTC fund into a spot Bitcoin ETF and a series of high-profile leadership changes.

While details such as the expected listing date, valuation, or stock exchange remain undisclosed, the confidential nature of the filing suggests Grayscale is still navigating regulatory reviews and market conditions. Industry analysts view the IPO as a strategic move to capitalize on renewed institutional interest in digital assets, while giving investors broader exposure to one of the most established crypto asset managers in the space.

The return of founder Barry Silbert as board chairman and the appointment of senior executives from firms like Goldman Sachs, Apollo Global, and Bridgewater Associates indicate the company is preparing for the operational and compliance demands of the public markets. The IPO is expected to position Grayscale for its next phase of growth amid increasing mainstream adoption of crypto investment products.