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 integrated into a Hong Kong-listed company under his control, aiming to capitalize on the growing demand for digital assets among investors. The Hong Kong-listed firm in question, Bitfire, is a wealth management company in which Li holds the largest share. According to a recent announcement, Bitfire will be acquiring a trading system and investment team from Li's family office, Avenir Group, for $1.6 million. This strategic move effectively transfers a portion of Li's in-house cryptocurrency operations to a publicly traded entity, providing a clearer pathway for attracting institutional investors. The timing of this move aligns with the regional trend, as mainland China has prohibited cryptocurrency trading since 2021, while Hong Kong is establishing itself as a regulated hub for digital assets, attracting firms seeking a compliant base. Recently, Hong Kong granted stablecoin licenses to major banks such as HSBC and Standard Chartered. Following the acquisition of Avenir's capabilities, Bitfire intends to launch a bitcoin-focused strategy called 'Alpha BTC', aiming to manage over 10,000 bitcoins, valued at approximately $760 million, within a year. The strategy will focus on generating returns through derivatives trading, including options linked to bitcoin and similar products. Avenir has established a substantial position in bitcoin ETFs, holding 18.3 million shares of IBIT, issued by BlackRock, with a valuation of around $908 million as of the end of 2025, according to the company's regulatory filings. 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.