Li Lin's Private Trading Operation to be Integrated into Hong Kong-Listed Wealth Management Firm

Billionaire Li Lin is poised to relocate his private crypto trading empire to a Hong Kong-listed company under his control, Bitfire, a wealth management firm where he holds the largest stake. The move, valued at $1.6 million, involves the acquisition of a trading system and investment team from Li's family office, Avenir Group, and is expected to cater to the growing demand for digital assets among investors. This strategic transfer allows Li's in-house crypto operation to be housed within a publicly listed entity, providing a clearer and more transparent framework for attracting institutional investors. The timing of this move aligns with the evolving landscape of the region, where mainland China has imposed a ban on crypto trading since 2021, while Hong Kong is actively positioning itself as a regulated hub for digital assets, thereby drawing interest from companies seeking a compliant base. Notably, Hong Kong has recently issued stablecoin licenses to major banks such as HSBC and Standard Chartered. Following the acquisition, Bitfire intends to launch a bitcoin-focused strategy dubbed 'Alpha BTC,' aiming to accumulate over 10,000 bitcoins, valued at approximately $760 million in assets within the span of a year. This strategy will focus on generating returns through derivatives trading, including options tied to bitcoin and products such as the IBIT. Avenir has established a significant presence 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, the founder of Huobi, now known as HTX, transformed it into one of the world's largest crypto exchanges before selling a controlling stake to Justin Sun for approximately $1 billion in 2022. Since then, he has been focused on managing his investments through Avenir.