Abra, the digital assets and wealth management platform, acquired Tron (TRX) and Zilliqa (ZIL) private crypto trusts from Valkyrie Investments just before settling regulatory charges with 25 U.S. states. This strategic move was undertaken by Abra Capital Management LP, an SEC-registered investment advisor.
The acquisition includes Valkyrie trusts for Tron and Zilliqa, expanding Abra’s spot and DeFi products. Abra plans to potentially make some of these trusts publicly traded, depending on market demand. These trusts allow asset managers to own digital assets on behalf of investors, with shares tradable in OTC markets, targeting accredited investors and high-net-worth individuals.
Following a settlement in June, Abra will return $82.1 million in cryptocurrencies to U.S. customers. Abra also launched Abra Treasury, offering crypto services to corporates and family offices, enhancing its market presence.
These developments position Abra to significantly expand its investment options and client base in the growing digital assets market.
