Arca and BlockTower Capital have merged to form a unified crypto investment platform, aiming to meet growing demand for regulated digital asset solutions.
Arca, BlockTower Capital Collaboration
Arca and BlockTower Capital have announced their merger, which will establish a unified cryptocurrency investment platform, according to a statement issued on November 13.
The demand from investors for regulated digital asset investment solutions was emphasized by Rayne Steinberg, CEO of Arca. He asserted that the merger would provide the firms with “the resources and expertise to effectively manage current offerings and expand our investment options.”
BlockTower Venture Capital will continue to operate independently, as verified by the firms, despite the merger. In the United States, both organizations are registered investment advisers.
Ari Paul, BlockTower’s Chief Investment Officer, expressed optimism about the merger’s impact on talent acquisition in the evolving digital assets market. “By merging with Arca, we’re excited to create a stronger investment team immediately,” Paul said.
In May, BlockTower Capital was alleged to have experienced losses as a result of a hack that affected a portion of its cryptocurrency holdings. Bloomberg reported that the organization was overseeing approximately $1.7 billion at the time.