Grayscale appoints former BlockTower executive Diana Zhang as COO

Cryptocurrency asset manager Grayscale Investments has named Diana Zhang as the firm's chief operating officer. She will begin her role on May 6, succeeding the firm's prior COO, Hugh Ross, according to a Wednesday company release . 

Zhang will report to Grayscale CEO Peter Mintzberg, where she will spearhead additional partnerships with the firm's clients and help grow the Grayscale Investments brand, the company release continues. 

Zhang served as COO for the digital asset-focused investment firm BlockTower Capital for two years before joining Grayscale. She also held several executive positions at the asset management firm Bridgewater Associates, where she worked for a total of 16 years, according to her LinkedIn profile. 

"This is an exciting time for the crypto asset management industry, and Grayscale is well-positioned for continued success," Zhang said in a statement. "I look forward to working with the talented team to drive innovation, deliver exceptional value to our clients, and set the standard for excellence and pioneering leadership in the market."

Grayscale Investments did not comment on Zhang's appointment beyond its Wednesday company statement. 

Grayscale is one of the largest brands in the cryptocurrency industry. Its spot bitcoin ETF GBTC , converted from a bitcoin-focused investment trust, holds the third-largest market share of bitcoin ETFs behind BlackRock's IBIT and Fidelity's FBTC. However, Grayscale's spot ether ETF ETHE holds second place behind BlackRock's ETHA in terms of market share, according to The Block's Data Dashboard. 

Beyond bitcoin, Grasycale maintains 28 crypto-focused investment funds that give investors exposure to a digital asset without having to store it themselves. These funds include those tied to  DOGE ,  SUI ,  NEAR ,  AVAX and Lido DAO . 

Grayscale also launched a fund for decentralized artificial intelligence in July 2024, The Block previously reported. This fund focuses on augmenting AI use in the cryptocurrency industry, prioritizing solutions to centralized AI challenges such as deepfakes, as well as improvements in GPU computation, data storage and other AI-related infrastructure, The Block previously reported.