Cryptocurrency trading platform Abra finalized its acquisition of multiple private cryptocurrency trusts from Valkyrie crypto trusts in what could be termed a strategic move
Kim notes that the crypto private trusts provide Abra Capital Management with the opportunity to expand its spot and decentralized finance (DeFi) products to more investors
Abra expands cryptocurrency holdings with Valkyrie's Tron and Zilliqa Trusts acquisition.
Abra settles with 25 US states, ceases US operations, and refunds $82.1 million to customers.
In particular, the acquisitions include the purchase of Valkyrie trusts for Tron and Zilliqa and others that are still to be launched.
Kim notes that the crypto private trusts provide Abra Capital Management with the opportunity to expand its spot and decentralized finance (DeFi) products to more investors. Abra could file to have some of the trusts listed on public exchanges, Kim adds, stating that this would depend on market demand.
With crypto trusts, an asset manager holds digital assets on behalf of the investor.
The shares of the coins, TRX or ZIL in this case, can be traded in over-the-counter (OTC) markets. However, these investment assets are not exchange-traded funds (ETFs) and are only available to accredited investors, institutions, or high-net-worth individuals.
