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

Renowned 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. The company has announced plans to acquire a trading system and investment team from Li's family office, Avenir Group, for $1.6 million, effectively transferring part of Li's private crypto trading business into a public entity. This move aims to provide a more accessible platform for institutional investors. The acquisition is part of a broader trend in the region, as Hong Kong positions itself as a regulated hub for digital assets following mainland China's ban on crypto trading in 2021. Bitfire intends to launch a bitcoin-focused strategy, 'Alpha BTC,' with a target of over 10,000 bitcoins, valued at approximately $760 million, within the next year. The strategy will involve derivatives trading, including bitcoin options and products like the IBIT. Avenir has established a significant presence in bitcoin ETFs, holding 18.3 million shares of IBIT, valued at around $908 million as of 2025. Li, the founder of Huobi, now known as HTX, has been focusing on investment management through Avenir after selling a controlling stake in Huobi to Justin Sun for about $1 billion in 2022.