According to TechFlow, on July 12, Bloomberg reported that Valkyrie Investments has sold its private trust business to digital asset service platform Abra, including Tron and Zilliqa trusts. The deal was reached in May, and Abra reached a settlement with 25 U.S. states last week. In March of this year, CoinShares announced the completion of the acquisition of Valkyrie Funds LLC's ETF business, and will acquire Valkyrie Investments' investment advisory business and obtain the sponsor rights of the Valkyrie Bitcoin spot ETF BRRR. CoinShares plans to use the Valkyrie ETF infrastructure to develop its U.S. asset management business, and the acquisition is expected to bring in an additional $530 million in assets under management.