Li Lin's Private Trading Venture to Join Forces with Hong Kong-Listed Wealth Management Firm

A significant development is underway as Chinese cryptocurrency mogul Li Lin is set to relocate his private trading empire to a Hong Kong-listed company under his control, in a bid to capitalize on the increasing demand for digital assets from investors. The Hong Kong-listed firm in question is Bitfire, a wealth management company where Li holds the largest share. According to recent reports, 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 deal, although structured as a purchase, effectively transitions part of Li's in-house cryptocurrency operations to a publicly listed entity, providing a clearer pathway for attracting institutional investors. The move is reflective of the shifting landscape in the region, with mainland China having banned cryptocurrency trading since 2021, while Hong Kong is positioning itself as a regulated hub for digital assets, thereby drawing the interest of firms seeking a compliant base. Recently, Hong Kong awarded stablecoin licenses to major banking institutions 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', with the aim of managing over 10,000 bitcoins, valued at approximately $760 million in assets, within a year. The strategy will focus on generating returns through derivatives trading, including options tied to bitcoin and products like the IBIT. Notably, Avenir has established a substantial position in bitcoin ETFs, holding 18.3 million shares of IBIT, issued by BlackRock, with a valuation of about $908 million as of the end of 2025, according to the company's regulatory filings. 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.