Li Lin's Private Trading Division 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 operations are poised to be integrated into a Hong Kong-listed wealth management company under his control. This strategic move is designed to capitalize on the growing demand for digital assets from investors. The company in question, Bitfire, is a wealth management firm where Li serves as the largest shareholder. According to recent announcements, 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 acquisition effectively transitions a segment of Li's in-house cryptocurrency operations into a publicly traded entity, providing a clearer pathway for attracting institutional investors. The timing of this move aligns with a broader regional trend, as mainland China has had a crypto trading ban in place since 2021, while Hong Kong is actively positioning itself as a regulated hub for digital assets, thereby drawing the interest of companies seeking a compliant base. Hong Kong has recently granted stablecoin licenses to major financial institutions such as HSBC and Standard Chartered. Following the acquisition of Avenir's capabilities, Bitfire plans to introduce a bitcoin-focused strategy known as 'Alpha BTC', aiming to manage over 10,000 bitcoins, valued at approximately $760 million, in assets within the span of a year. This strategy will pursue returns through derivatives trading, including options linked to bitcoin and other products like the IBIT. 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 built 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.