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

Renowned Chinese cryptocurrency entrepreneur Li Lin is set to relocate his private trading business to a Hong Kong-listed company under his control, catering to the increasing demand for digital assets from investors. The Hong Kong-listed company in question is Bitfire, a wealth management firm where Li serves as the largest shareholder. 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 essentially transfers a segment of Li's in-house cryptocurrency operations to a publicly listed entity, providing a more straightforward path to attracting institutional investors. The move is well-timed, given the current landscape in the region. Since 2021, mainland China has prohibited cryptocurrency trading, but Hong Kong is establishing itself as a regulated hub for digital assets, drawing interest from companies seeking a compliant base. Recently, Hong Kong granted stablecoin licenses to prominent banks such as HSBC and Standard Chartered. By acquiring Avenir's capabilities, Bitfire aims to launch a bitcoin-focused strategy called 'Alpha BTC', targeting over 10,000 bitcoins, valued at approximately $760 million in assets within the next year. The strategy will focus on generating returns through derivatives trading, including options tied to bitcoin and products like the IBIT. Avenir has built 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. Li, the founder of Huobi, now known as HTX, successfully 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.