Abra Capital Management acquired Valkyrie cryptocurrency trusts

According to a spokesperson for the digital asset management platform, these acquisitions will allow the company to bring its spot and decentralized finance (DeFi) products to a broader market.

In addition to Tron and Zalliqa, Abra has also acquired several other unnamed trusts. According to Bloomberg, the two investment assets are not exchange-traded funds (ETFs) but are "open only to accredited investors, institutions and high net worth individuals."

News of Abra's latest moves comes weeks after the company settled with several US regulators following allegations of unregistered crypto asset transactions. It is known that, as a result of the settlement, Abra will return $82.1 million in cryptocurrencies to U.S. customers.

In January 2024, Abra also struck a deal with Texas securities regulators to allow the platform's clients to withdraw their funds.

This week, Abra Capital Management announced the launch of Abra Treasury with cryptocurrency services targeting corporations, family offices and nonprofits.