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

The private trading operations of Chinese cryptocurrency mogul Li Lin are poised to be absorbed by a Hong Kong-listed company under his control, marking a deliberate effort to meet the rising demand for digital assets among investors. The Hong Kong-listed company in question, Bitfire, is a wealth management firm in which Li holds the largest share. 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 acquisition effectively transitions a part of Li's in-house cryptocurrency operations to a publicly traded entity, providing a clearer pathway to attract institutional investors. The move is reflective of the shifting landscape in the region, as mainland China has prohibited cryptocurrency trading since 2021, while Hong Kong positions itself as a regulated hub for digital assets, attracting firms seeking a compliant base. Hong Kong has recently granted stablecoin licenses to notable banks such as HSBC and Standard Chartered. Following the acquisition of Avenir's capabilities, Bitfire plans 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. The strategy will pursue returns through derivatives trading, including options linked to bitcoin and products such as the IBIT. Avenir has established a significant position in bitcoin ETFs, holding 18.3 million shares of IBIT, issued by BlackRock, which were valued at about $908 million as of the end of 2025, according to the company's regulatory filing. Li, the founder of Huobi, now known as HTX, transformed 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.