Digital asset wealth manager Abra will go public via a reverse merger with SPAC New Providence Acquisition Corp. III, as crypto firms increasingly seek access to public markets amid renewed investor interest. The parties signed a definitive agreement valuing Abra at a pre-money equity valuation of $750 million.
Existing investors — including Pantera Capital, Blockchain Capital, RRE Ventures, Adams Street and SBI — will roll their shares into the combined company rather than cashing out. The merged company is expected to list on Nasdaq under the ticker ABRX.
The public firm will concentrate on crypto wealth management, providing custody and segregated accounts, yield strategies, crypto-backed loans, treasury management and trading services.
Founded in 2014 by CEO Bill Barhydt, Abra serves high-net-worth clients, institutions and family offices. Its investment-management arm, Abra Capital Management LP, is registered with the U.S. Securities and Exchange Commission as an investment adviser, enabling it to offer portfolio management services.
Abra has reshaped its U.S. operations after regulatory scrutiny. In 2024 the company settled with regulators in 25 states over its Abra Earn crypto lending product, agreeing to return assets to customers and wind down the program for U.S. clients. Since then, Abra has shifted focus toward institutional and wealth-management services.
The deal comes as several crypto companies explore public listings. SPACs have regained attention as a faster route to public markets, though they carry risks including volatility, dilution, disclosure opacity, technical complexity and regulatory uncertainty, Jessica Groza, partner at Kohrman Jackson & Krantz, has said.
Traditional IPOs have also been used recently by crypto firms seeking mainstream capital. Stablecoin issuer Circle Internet Group listed on the New York Stock Exchange in June 2025, and crypto exchange Gemini debuted on Nasdaq later that year. Blockchain-focused Figure Technologies and institutional trading platform Bullish also went public via IPO. Other industry players reported to be exploring U.S. listings include hardware-wallet maker Ledger and institutional custodian Copper.
Cointelegraph is committed to independent, transparent journalism. This article follows Cointelegraph’s Editorial Policy; readers are encouraged to verify information independently. Read the Editorial Policy at https://cointelegraph.com/editorial-policy