According to BlockBeats, Valkyrie Investments has sold its private trust business to digital asset service platform Abra. The sale includes trusts for Tron and Zilliqa and was finalized in May. Last week, Abra reached a settlement with 25 U.S. states.
BlockBeats previously reported that in March, digital asset investment company CoinShares announced the completion of its acquisition of Valkyrie Funds LLC's ETF business. CoinShares also plans to acquire the investment advisory business of Valkyrie Investments Inc. and obtain sponsorship rights for Valkyrie's Bitcoin spot ETF, BRRR.
CoinShares aims to leverage Valkyrie's ETF infrastructure to expand its U.S. asset management business, with a clear focus on product innovation and market differentiation. The acquisition is expected to add $530 million in assets under management for CoinShares.
