Li Lin's Private Trading Division to Merge with Hong Kong-Listed Wealth Management Firm

Billionaire Li Lin is set to relocate his private trading operations to a Hong Kong-listed company under his control, aiming to capitalize on the increasing demand for digital assets among investors. The company in question, Bitfire, a wealth management firm where Li holds the largest stake, announced on Wednesday its intention to acquire a trading system and investment team from Li's family office, Avenir Group, for $1.6 million, as reported by Reuters. Although structured as an acquisition, the deal essentially transfers part of Li's in-house cryptocurrency operations to a publicly listed entity, providing a clearer pathway to attract institutional investors. This development aligns with the region's broader 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 prominent banks such as HSBC and Standard Chartered. By acquiring Avenir's capabilities, Bitfire plans 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. The strategy will focus on generating returns through derivatives trading, including options tied to bitcoin and products like the IBIT. Avenir has established a significant presence in bitcoin ETFs, holding 18.3 million shares of IBIT, issued by BlackRock, valued at around $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.