Li Lin's Private Trading Operation to Integrate with Hong Kong-Listed Wealth Management Firm

Renowned Chinese cryptocurrency entrepreneur Li Lin is set to relocate his private trading business into a Hong Kong-listed company under his control, catering to the increasing demand from investors for digital assets. The Hong Kong-listed firm in question is Bitfire, a wealth management company in which Li holds the largest share. According to a recent announcement, Bitfire will acquire a trading system and investment team from Li's family office, Avenir Group, for $1.6 million. This acquisition, in essence, transitions part of Li's internal crypto operations into a publicly traded entity, providing a clearer avenue for attracting institutional investors. The move aligns with the region's broader trend, as mainland China has prohibited crypto 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 called 'Alpha BTC', aiming to manage over 10,000 bitcoins, valued at approximately $760 million, within a year. The strategy will focus on generating returns through derivatives trading, including bitcoin options and products like IBIT. Avenir has established a significant presence in bitcoin ETFs, holding 18.3 million shares of IBIT, issued by BlackRock, with a value of about $908 million as of 2025, according to the company's regulatory filings. Li, the founder of Huobi, now known as HTX, built it into one of the world's largest crypto exchanges before selling a controlling stake to Justin Sun for approximately $1 billion in 2022, and has since focused on managing investments through Avenir.