Blockchain lead Eric Wall has left the exchange business for a bitcoin investment fund, Since NASDAQ acquired Cinnober last year, there by joining the Oslo, Norway-based Arcane Crypto, he said.
The fund is an investment branch of Arcane, a crypto firm running a technology team, trading arm and a crypto news portal Kryptografen.com, a high net worth Scandinavians and institutional investors globally.
A widely revered crypto expert in Norway- Arcane Crypto, CEO Torbjorn Bull Jenssen and a white paper published earlier this year indicates that their team is watching the industry closely, though they are yet to provide any clues to the investment strategy.
Wall said that outperformance that is separate from the revaluation of bitcoin would be the metric. Meanwhile, he could not precisely disclose which assets will be Arcane’s focus.
“How funds perform against bitcoin is the metrics that really matters. Once the dust starts to settle on that, it’s going to be clearer who’s been swimming naked.”
He said, only those strictly selected altcoin could also make it into Arcane’s portfolio:
“It’s already very different now than it was a few years ago as we see a maturing trend in Altcoin market. It’s becoming very hard for technically inept projects to fake it until you make it. In the cryptocurrency design space, only very few selected areas that has merit to compete against bitcoin.”
The main aim is to trade digital currencies to increase the size of the portfolio, in bitcoin instead of measuring performance against fiat.
Wall basically focused on explaining crypto to people in traditional finance in English, not in Norwegian and had spent more than three years at Cinnober, a company that deals on tech solutions for stock and crypto exchanges.
“We will have a special focus on the Nordics, though not exclusive,” Wall added.
Arcane Crypto was founded by Norwegian investors Ketil Skorstad and Khristian G. Lundqvist, and also funded by a poker player and chairman of the Swedish casinos company Cherry – Morten Klein– in an undisclosed round this April.
All three investors are from Norway, explaining the Scandinavian slant of the fund.
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