Li Lin's Private Trading Operation to be Absorbed by Hong Kong-Listed Wealth Management Firm

The private trading empire of Chinese cryptocurrency billionaire Li Lin is poised to be integrated into a Hong Kong-listed company under his control, catering to the rising demand for digital assets from investors. The Hong Kong-listed firm in question, Bitfire, is a wealth management company in which Li holds the largest share. According to a recent announcement, Bitfire will acquire a trading system and investment team from Li's family office, Avenir Group, for $1.6 million. This structured purchase effectively transitions a portion of Li's in-house cryptocurrency operations into a publicly traded entity, providing a clearer pathway for attracting institutional investors. The move aligns with a broader regional trend, as mainland China has prohibited cryptocurrency trading since 2021, while Hong Kong is establishing itself as a regulated hub for digital assets, attracting firms seeking a compliant base. Recently, Hong Kong granted stablecoin licenses to major banks such as HSBC and Standard Chartered. By acquiring Avenir's capabilities, Bitfire intends to introduce a bitcoin-focused strategy called 'Alpha BTC', aiming to manage over 10,000 bitcoins, valued at approximately $760 million in assets within a year. This strategy will pursue returns through derivatives trading, including options linked to bitcoin and products similar to the IBIT. Avenir has established a significant position in bitcoin ETFs, holding 18.3 million shares of IBIT, issued by BlackRock, valued at about $908 million as of the end of 2025, according to the company's regulatory filing. Li, who founded Huobi, now known as HTX, and transformed it into one of the world's largest cryptocurrency exchanges before selling a controlling stake to Justin Sun for approximately $1 billion in 2022, has since focused on managing investments through Avenir.