ChainCatcher reported that Bloomberg reported that Valkyrie Investments has sold its private trust business to digital asset service platform Abra, including Tron and Zilliqa trusts. It is reported that the deal was reached in May and Abra reached a settlement with 25 US states last week.
In March of this year, digital asset investment company CoinShares announced the completion of its acquisition of Valkyrie Funds LLC ("Valkyrie") ETF business. At the same time, CoinShares will also acquire the investment advisory business of Valkyrie Investments Inc. ("Valkyrie Investments") and obtain the sponsor rights of Valkyrie Bitcoin Spot ETF BRRR.
CoinShares plans to leverage the Valkyrie ETF infrastructure to grow its U.S. asset management business, with a clear focus on product innovation and market differentiation. The acquisition is expected to bring CoinShares $530 million in additional AUM.