Ramona Boston
About Ramona Boston
Ramona Boston serves as Chief Marketing Officer at Grayscale Investments, the sponsor of Grayscale Litecoin Trust (LTCN), effective July 9, 2025, reporting to CEO Peter Mintzberg . She joined from Apollo Global Management, where she was Global Head of Client Marketing; prior roles include Global Head of Branding and Group Marketing at Credit Suisse and Chief Marketing Officer at Morgan Stanley . Education disclosed externally indicates a Bachelor’s degree from Bucknell University . LTCN’s performance is driven by Litecoin price rather than corporate P&L; the average Index Price for the twelve months ended Sept 30, 2025 was $98.70 (high $137.18, low $62.98), and the straight average for Oct 2020–Sept 2025 was $104.03 .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Apollo Global Management | Global Head of Client Marketing | c. 8 years (2017–2025) | Built full-scale strategic marketing function; delivered integrated campaigns; developed Apollo Academy education platform . |
| Credit Suisse | Global Head of Branding and Group Marketing | Not disclosed | Led global brand strategy; launched first integrated marketing plan aligned with business priorities . |
| Morgan Stanley | Chief Marketing Officer | Not disclosed | Managed brand through major transitions; led two rebranding initiatives with large-scale advertising and sponsorships . |
External Roles
No public company directorships or external board roles were disclosed in LTCN filings or Grayscale’s management announcements reviewed .
Fixed Compensation
Not disclosed in LTCN or Grayscale filings. LTCN is a grantor trust; the Trust pays a Sponsor’s Fee at 2.5% of NAV that accrues daily and (post-amendment) is payable daily to the Sponsor, but individual executive compensation details are not included in Trust filings .
Performance Compensation
Not disclosed. No metrics (e.g., revenue/EBITDA/TSR-based pay) tied to Ms. Boston are reported in LTCN filings; the Trust’s Sponsor’s Fee structure is not individualized .
Equity Ownership & Alignment
- LTCN security ownership: As of Sep 25, 2025 record date, 24,252,100 shares outstanding; Sponsor states it is not aware of any >5% holders .
- DCG authorized share purchase program: $30M authorization (Mar 2, 2022); $1.8M purchased Mar 2022; none purchased thereafter through Sept 30, 2025; $28.2M capacity remained as of Sept 30, 2025 . No disclosures of Ms. Boston’s personal LTCN holdings, pledging, hedging, or compliance with stock ownership guidelines.
| Metric | Jul 2025 | Aug 2025 | Sep 2025 |
|---|---|---|---|
| LTCN Shares Purchased by DCG | 0 | 0 | 0 |
| Remaining Authorization ($mm) | $28.2 | $28.2 | $28.2 |
Employment Terms
| Term | Detail |
|---|---|
| Effective date | July 9, 2025 . |
| Reporting line | Reports to Grayscale CEO Peter Mintzberg . |
| Contract duration, severance, CoC, non-compete | Not disclosed in LTCN filings/8-Ks reviewed –. |
LTCN Contextual Performance (for alignment analysis)
| Period (12 months ended Sept 30) | Average Index Price ($) | High ($) | High Date | Low ($) | Low Date | End-of-period ($) |
|---|---|---|---|---|---|---|
| 2021 | 156.72 | 371.71 | 5/11/2021 | 44.77 | 10/2/2020 | 151.87 |
| 2022 | 111.53 | 275.50 | 11/10/2021 | 42.68 | 6/18/2022 | 53.87 |
| 2023 | 79.42 | 111.10 | 7/2/2023 | 51.00 | 10/15/2022 | 66.31 |
| 2024 | 73.86 | 107.54 | 4/2/2024 | 55.46 | 8/5/2024 | 67.34 |
| 2025 | 98.70 | 137.18 | 1/17/2025 | 62.98 | 10/2/2024 | 106.79 |
Performance & Track Record
- Built and scaled institutional and wealth-channel marketing functions at Apollo; delivered integrated campaigns and client experiences; created Apollo Academy, an education platform in alternatives .
- Prior leadership at Credit Suisse and Morgan Stanley across branding and major rebranding initiatives, indicating deep experience in financial-services marketing through change cycles .
Compensation Structure & Governance Context (Trust-level)
- Sponsor’s Fee: Accrues daily at 2.5% of NAV Fee Basis Amount; amendment proposes payment daily in arrears (from monthly), with Sponsor discretion on timing of LTC withdrawals to satisfy accrued fees . This is Sponsor-level economics and not individualized compensation disclosure .
- Governance amendments: Proposed changes increase Sponsor discretion to amend the Trust Agreement with notice (20 days) rather than shareholder consent, with potential tax treatment implications and shareholder disenfranchisement risks highlighted in “Potential Disadvantages” .
Investment Implications
- Alignment: No disclosure of Ms. Boston’s personal equity ownership or incentive metrics; as CMO of the Sponsor, her impact likely flows through AUM growth, product adoption, and distribution rather than LTCN-specific profit metrics. The Trust’s Sponsor’s Fee structure rewards AUM and persistence, not individual KPIs .
- Retention/Execution: New appointment effective July 2025 suggests early tenure; prior track record at Apollo/Credit Suisse/Morgan Stanley indicates capability in scaling marketing and education, supporting distribution and liquidity narratives for crypto products .
- Trading signals: DCG’s remaining $28.2M buyback authorization for LTCN (unused since Mar 2022) provides optional support; lack of ongoing purchases reduces immediate downside cushion from affiliate buying . Trust-level amendments (daily fee payability, omnibus accounts, broadened Sponsor discretion) tighten operational cadence and flexibility but elevate governance/tax classification risks investors should monitor –.