According to a recent report, the cryptocurrency company Abra has acquired a collection of digital currency trusts from Valkyrie Investments. The transaction, which includes Valkyrie’s Tron and Zilliqa trusts, was reportedly concluded before Abra reached a settlement with state regulators.
Abra Acquires Valkyrie’s Tron and Zilliqa Trusts
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Valkyrie Sells Several Crypto Trusts to Abra
At the end of June, Abra resolved licensing violations with 25 state regulators in the United States. The next month, Abra announced the introduction of a digital asset treasury service aimed at corporations, family offices, and non-profits.
On July 12, Bloomberg reported that Abra had acquired several trusts from the digital asset fund manager Valkyrie, finalizing the transaction in May before the settlement with state regulators.
Abra’s head of asset management, Marissa Kim, discussed the acquisition with Bloomberg. Kim detailed that the deal included Tron and Zilliqa trusts, along with several other yet-to-be-launched trusts.
“This acquisition will provide ACM with a way to expand its current offering of spot and defi products to a new audience of investors,” Kim explained. The report highlighted that Valkyrie has been divesting parts of its business since being acquired by Coinshares. Kim also mentioned that “depending on market appetite,” the firm might consider taking some of its funds public in the future.
What do you think about Abra acquiring the Tron and Zilliqa trusts from Valkyrie? Share your thoughts and opinions about this subject in the comments section below.
