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

The private trading operations of Chinese cryptocurrency billionaire Li Lin are slated to be absorbed into a Hong Kong-listed firm under his control, aiming to capitalize on the increasing demand for digital assets among investors. The Hong Kong-listed company in question, Bitfire, is a wealth management firm where Li holds the largest stake. 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 strategic move effectively transitions part of Li's in-house cryptocurrency operations into a publicly listed entity, providing a clearer pathway to attract institutional investors. The timing of this move coincides with a broader shift in the region, as Hong Kong positions itself as a regulated hub for digital assets following mainland China's ban on cryptocurrency trading in 2021. Hong Kong has recently granted stablecoin licenses to major banks such as HSBC and Standard Chartered. With the acquisition of Avenir's capabilities, Bitfire plans to launch a bitcoin-focused strategy called 'Alpha BTC', targeting over 10,000 bitcoins, valued at approximately $760 million, within a year. This strategy will focus on generating returns through derivatives trading, including options tied to bitcoin and products like the IBIT. Avenir has established a significant presence in bitcoin ETFs, holding 18.3 million shares of IBIT, issued by BlackRock, valued at around $908 million as of 2025, according to the company's regulatory filing. Li, who founded Huobi, now known as HTX, and transformed 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 concentrated on managing investments through Avenir.