Crypto asset manager Abra, which had $334 million in assets under management (AUM) at the end of 2025, is listing on the Nasdaq via a SPAC merger with New Providence Acquisition Corp III. The company aims to grow AUM to $2 billion in 2026 and $11 billion in 2027, with the SPAC deal valuing Abra at $750 million pre money.
The combined company plans to serve high net worth individuals, institutions, funds and RIA clients. Abra Capital Management is a registered investment adviser (RIA) with the SEC, with a single affiliated individual with around a year’s experience.
However, the Abra brand carries a complicated history creating confusion. The company’s founder and CEO Bill Barhydt has run several other companies using the same brand. They include Abra Trading, Plutus Financial, Plutus Lending and Plutus Financial Holdings. Like many other crypto firms, the companies were sued by regulators. While US legal actions appear to have been settled, including the return of $82 million to US retail investors, many international investors are complaining about not getting their money back. And these issues appear to be ongoing, based on Reddit threads.
Article continues …
Want the full story? Pro subscribers get complete articles, exclusive industry analysis, and early access to legislative updates that keep you ahead of the competition. Join the professionals who are choosing deeper insights over surface level news.
