Arcane Crypto, which develops and invests in projects focused on bitcoin and digital assets, has today finalised its reverse takeover of Vertical Ventures AB, by starting trading under its new name and ticker.
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Arcane, which is already a Nordic powerhouse in crypto, has set its sights on becoming a leading full service digital asset platform in Europe, bridging the gap between the new digital economy and traditional markets. The cryptocurrency market is growing rapidly, with returns on Bitcoin around +202% in the past six months and BTC hitting an all-time high of over $41,000 around 8th January. Arcane is seeking to capitalise on growing interest from institutions that are increasingly looking for exposure to cryptocurrencies and digital assets, but often aren’t able to hold Bitcoin themselves. Investors are looking for other ways to access the space such as via bitcoin focused reverse takeovers or SPACs (including the recent Bakkt SPAC deal set to go public) and bitcoin stocks including MicroStrategy Inc.
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This listing positions Arcane for further growth, as it looks to expand the companies within its group and also attract investors looking for exposure to the infrastructure supporting and market activity around bitcoin and digital assets.
Commenting on the acquisition, Torbjørn Bull Jenssen, CEO, Arcane Crypto AB, said: “This listing marks a new chapter for Arcane Crypto on our journey towards a future where traditional and digital finance have merged into one. We are in a great position to not only grow with the market, but also take a leading role in developing and helping to mature certain parts of the market. We will continue our ecosystem approach of bringing the different parts of the value chain under the same roof to realise synergies, and expect to take an active role in M&A.”
