The investing chief of crypto asset manager Arca shares the 3 themes and 10 tokens he's betting on – and explains how to execute his special-situations investing strategy in digital assets


Jeff Dorman is the chief investment officer at crypto asset manager Arca.

Jeff Dorman is the chief investment officer of the $200 million crypto asset manager Arca. Dorman, a traditional finance veteran, shares three themes and ten tokens he’s betting on in crypto. He also walks through an example of how to execute special situations investing in digital assets. See more stories on Insider’s business page.

Jeff Dorman seems to be the perfect person to bring fundamental investing into the crypto world.

Two decades ago, Dorman got his start as an investment banking analyst at Lehman Brothers. Since then, he has worked at Merrill Lynch, Citadel Securities, and a few debt-focused hedge funds before joining a fintech firm.

That’s where he first encountered Bitcoin in 2016.

As a seasoned debt investor, Dorman was already well aware of the need to be in inflation-protected risk assets due to the central bank’s expansionary monetary program. Working at a fintech company helped him connect the dots.

“We had 10 full-stack developers on our team. Those developers were mining for Bitcoin, they were using GitHub and open source code,” he said in an interview.

From there, Dorman joined the crypto world, and before long, he realized that there was so much more to this space than just Bitcoin.

“The majority of investors in the space still think that Bitcoin equals cryptocurrency equals the entire market,” he said. “The reality is, Bitcoin is just one tiny component of what this asset class has become, there are different sectors, different token types, and different value drivers.”

Today, as the chief investment officer of crypto asset manager Arca, Dorman invests in themes and tokens that extend way beyond Bitcoin.

To capture the areas where digital assets and blockchain are driving economic value, he designed his strategy in a way that exploits catalysts and inefficiencies overlooked by Bitcoin-only investors, algorithmic and quantitative traders, as well as early-stage venture capital investors.