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

A significant development is underway for Chinese cryptocurrency magnate Li Lin, as his private trading empire is poised to be absorbed by a Hong Kong-listed company under his control. This strategic move is designed to capitalize on the growing appetite for digital assets among investors. The Hong Kong-listed firm in question is Bitfire, a wealth management company in which Li holds the largest stake. According to a recent announcement, Bitfire will acquire a trading system and investment team from Li's family office, Avenir Group, for a sum of $1.6 million. This transaction effectively transfers a portion of Li's in-house cryptocurrency operations to a publicly traded entity, providing a clearer pathway for attracting institutional investors. The timing of this move aligns with a broader trend in the region, 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. Following the acquisition of Avenir's capabilities, Bitfire plans to launch a bitcoin-focused strategy known as "Alpha BTC", aiming to manage over 10,000 bitcoins, valued at approximately $760 million, within a year. This strategy will pursue returns through derivatives trading, including options tied to bitcoin and products like the IBIT. Avenir has established a substantial 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.