Crypto Trading Platform Abra Buys Valkyrie’s Private Trusts (1)

Crypto trading platform Abra said it had acquired several private cryptocurrency trusts from Valkyrie Investments, shortly before it settled with 25 US state financial regulators for operating without appropriate licenses.

Abra Capital Management LP took over a number of active trusts from Valkyrie in May, Abra’s head of asset management Marissa Kim said in an emailed response to questions by Bloomberg News on Friday. The deal included Valkyrie’s Tron and Zilliqa trusts, Kim said, as well as several trusts that have not yet been launched.

The Zilliqa Trust had sold a total amount of $21.3 million in assets as ...