Bloomberg: Valkyrie Investments has sold its private trust business to Abra, including Tron and Zilliqa trusts

ChainCatcher news, according to Bloomberg, Valkyrie Investments has sold its private trust business to the digital asset service platform Abra, which includes Tron and Zilliqa trusts. It is reported that the deal was reached in May, and Abra settled with 25 states in the U.S. last week.

In March this year, digital asset investment firm CoinShares announced the completion of its acquisition of Valkyrie Funds LLC ("Valkyrie") ETF business, while CoinShares will also acquire the investment consulting business of Valkyrie Investments Inc. ("Valkyrie Investments") and obtain the sponsorship rights for Valkyrie's Bitcoin spot ETF BRRR.

CoinShares plans to leverage Valkyrie's ETF infrastructure to develop its U.S. asset management business, with a clear focus on product innovation and market differentiation. This acquisition is expected to bring CoinShares an additional $530 million in assets under management.