Li Lin's Private Trading Division to Join a Hong Kong-Listed Wealth Management Company

A significant development is underway as Chinese cryptocurrency entrepreneur Li Lin is set to relocate his private trading operations to a Hong Kong-based wealth management firm, Bitfire, in which he holds a majority stake. This move is designed to meet the escalating demand for digital assets from investors. Bitfire has announced plans to acquire a trading system and investment team from Li's family office, Avenir Group, for $1.6 million, according to a report by Reuters. This acquisition effectively transitions part of Li's in-house cryptocurrency operations to a publicly listed entity, providing a clearer pathway to attract institutional investors. The move is timely, given the current shift in the region, with mainland China having banned 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 intends 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 generate returns through derivatives trading, including options linked 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 around $908 million as of the end 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 cryptocurrency exchanges before selling a controlling stake to Justin Sun for approximately $1 billion in 2022. Since then, he has focused on managing investments through Avenir.