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

The private trading empire of Chinese cryptocurrency billionaire Li Lin is poised to be integrated into a Hong Kong-listed company under his control, catering to the increasing demand for digital assets from investors. The Hong Kong-listed firm in question, Bitfire, is a wealth management company where Li serves as the largest shareholder. As reported by Reuters, Bitfire announced on Wednesday that it will be acquiring a trading system and investment team from Li's family office, Avenir Group, for $1.6 million. Although structured as a purchase, the agreement effectively transfers a portion of Li's in-house cryptocurrency operation to a publicly traded entity, providing a clearer path for attracting institutional investors. This move reflects a broader regional trend, as mainland China has prohibited cryptocurrency trading since 2021, while Hong Kong is positioning itself as a regulated hub for digital assets, attracting firms seeking a compliant base. Recently, Hong Kong granted stablecoin licenses to HSBC and Standard Chartered. By acquiring Avenir's capabilities, Bitfire intends to launch a bitcoin-focused strategy, known as 'Alpha BTC,' aiming to manage over 10,000 bitcoins, valued at approximately $760 million in assets within a year. This strategy will seek returns through derivatives trading, including options tied to bitcoin and products like the IBIT. Avenir has established a significant position in bitcoin ETFs, holding 18.3 million shares of IBIT, issued by BlackRock, valued at about $908 million as of the end of 2025, according to the company's regulatory filing. 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 about $1 billion in 2022, has since focused on managing investments through Avenir.