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

A significant shift is on the horizon for Chinese cryptocurrency mogul Li Lin, as his private trading empire is poised to be integrated into a Hong Kong-listed company under his control. The company in question, Bitfire, is a wealth management firm where Li holds the largest stake. According to a recent announcement, Bitfire will be acquiring a trading system and investment team from Li's family office, Avenir Group, for a sum of $1.6 million. This strategic move is designed to tap into the growing demand for digital assets among investors. By bringing Avenir's capabilities under its umbrella, Bitfire aims to launch a bitcoin-focused strategy known as 'Alpha BTC', with a target of managing over 10,000 bitcoins, valued at approximately $760 million, within the next year. The strategy will focus on generating returns through derivatives trading, including options linked to bitcoin and other products. Avenir has already established a substantial presence in bitcoin ETFs, holding 18.3 million shares of IBIT, a product issued by BlackRock, with a valuation of around $908 million as of 2025. Having founded Huobi, one of the world's largest cryptocurrency exchanges, which is now known as HTX, Li sold a controlling stake to Justin Sun for approximately $1 billion in 2022 and has since been focusing on investment management through Avenir.