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

A significant shift is underway for Chinese cryptocurrency mogul Li Lin, as his private trading operations are poised to be absorbed into a Hong Kong-listed company under his control. This strategic move aims to capitalize on the growing demand for digital assets among investors. The Hong Kong-listed firm in question is Bitfire, a wealth management company 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 deal effectively transitions part of Li's in-house cryptocurrency operations into a publicly traded entity, providing a clearer pathway for attracting institutional investors. The timing of this move aligns with a broader 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 interest from companies seeking a compliant base. Hong Kong has recently granted stablecoin licenses to major banks like HSBC and Standard Chartered. Following 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 in assets within the first year. This strategy will seek returns through derivatives trading, including options tied to bitcoin and products like the IBIT. Avenir has already established a significant position in bitcoin ETFs, holding 18.3 million shares of IBIT, issued by BlackRock, valued at about $908 million as of the end of 2025. Li Lin, who founded Huobi (now known as HTX) and built 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 focused on managing investments through Avenir.