Eric Wall, the ex-Cinnober blockchain lead, has decided to no longer be in the exchange business because he has joined Arcane Crypto, the Oslo bitcoin investment fund. Arcane Crypto is a branch of Arcane that focuses on Scandinavians with a high net worth, also on global institutional investors.
The same firm runs a trading arm, a technology team and Kryptografen, the portal for crypto news. Its CEO is Torbjorn Bull Jensen, a Norwegian crypto expert who has published a white paper on how the industry could be closely watched, but in which he doesn’t mention anything about investing.
Arcane Wants to Include Altcoin in the Portfolio
Eric Wall said that he can’t disclose the assets on which Arcane will be focusing and that the outperformance of bitcoin revaluation will be metric. He also hinted that altcoin may be included in the Arcane portfolio, but that the selection process will be very harsh, so only projects that can truly compete against bitcoin will be taken into consideration. The goal won’t be to measure performance against fiat, but more to increase the portfolio by trading digital currencies in bitcoin.
“We are seeing a maturing trend in the altcoin market. It’s already very different now than it was a few years ago. It’s becoming harder and harder for technically inept projects to fake-it-til-you-make-it. There’s only in a very few, select areas in the cryptocurrency design space that has merit to compete against bitcoin.”
Who’s Behind Arcane Crypto?
Founded by Khristian G. Lundqvist and Ketil Skorstad, two investors from Norway, Arcane Crypto was funded by poker enthusiasts and chairman of the Swedish Cherry casino company, Morten Klein. Since all three Arcane Crypto investors are Norwegian, the fact that the fund is aimed at Scandinavians comes as no surprise.
Eric Wall joined this fund after NASDAQ has acquired Cinnober, where he used to explain for more than three years, what crypto is, to traditional financers. He also mentioned that while Arcane will focus on Scandinavians, it won’t be exclusive.