According to BlockBeats, on July 12, Valkyrie Investments has sold its private trust business to digital asset service platform Abra, including Tron and Zilliqa trusts. The transaction was reached in May, and Abra reached a settlement with 25 US states last week.
According to BlockBeats, in March 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 leverage the Valkyrie ETF infrastructure to grow its U.S. asset management business with a focus on product innovation and market differentiation, and expects the acquisition to bring CoinShares $530 million in additional AUM.