Swede Eric Wall launches crypto fund – backed by Norwegian multibillionaire
Nov 12, 2019
Last year, the Swedish financial technology company Cinnober was acquired by the US stock exchange Nasdaq. At the same time, the Swedish crypto personality Eric Wall also left the role of crypto manager for the company.
Since then, it has not been known exactly what he is going to do next, but now it is official: Eric Wall is going to be the manager of a new crypto fund.
“It feels really great. I’ve been glancing at something like this for several years, but it’s only now that the timing really feels right. I also think that the Nasdaq acquisition was needed to get this started, so it feels like I’ve had a lot of luck, too”, Eric Wall told Trijo News.
Backed by heavy investors
The new crypto fund is called Arcane Assets and will primarily be aiming at high net worth individuals and various financial institutions.
Arcane Assets is launched by Arcane Crypto, a Norwegian company that started in 2018 and that invests in both cryptocurrencies and crypto companies.
Behind the company are the Norwegian investors Ketil Skorstad and Kristian G. Lundkvist, and now also the multi-billionaire (in NOK) Morten Klein, a major owner and chairman of the casino company Cherry.
According to Eric Wall, most of the crypto funds that are available today are far too expensive and achieve very little. In addition, you do not need a fund manager if you only would like to invest in bitcoin, he says.
“What you do need a fund for, however, is when you want a wider exposure to cryptocurrencies than just bitcoin. Unfortunately, the market is still too immature for index products. It is still common for pure scam products to be in the top ten list, and in addition, most managers lack the kind of rigorous technical background required to be able to discern which the truly innovative and valuable projects are”, says Eric Wall.
Has reviewed altcoins
With his knowledge of the underlying technology behind cryptocurrencies and several years of experience in crypto trading, Eric Wall believes that he is suitable for the role of fund manager.
In recent years, he has also examined a number of smaller cryptocurrencies, called altcoins, and found both weaknesses and bugs in their protocol codes.
“Some of these have resulted in multi-billion dollar price drops, which has created excellent opportunities to profit from short positions. I think my prerequisites are fairly good in order to be able to distinguish between what is rubbish and what actually means something, says Eric Wall.
“I think my prerequisites are fairly good”
Torbjørn Bull Jenssen is the CEO of Arcane Crypto. He is pleased with the recruitment of Eric Wall.
“I am extremely pleased to have Eric Wall as the fund manager. I was looking for someone who really understands the technology and who also understands the financial aspects of cryptocurrencies and tokens. We found that in Eric”, he says to Trijo News.