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

A significant development is underway for Chinese cryptocurrency mogul Li Lin, as his private trading empire is poised to be absorbed into a Hong Kong-listed company under his control. This move aims to capitalize on the increasing demand for digital assets from 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 be acquiring a trading system and investment team from Li's family office, Avenir Group, for $1.6 million. This transaction effectively transfers a portion of Li's in-house cryptocurrency operations into a publicly listed 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 positioning 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 plans 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. This strategy will focus on generating returns through derivatives trading, including options tied to bitcoin and products like the IBIT. Avenir has established a substantial 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, according to the company's regulatory filings. Li, 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 approximately $1 billion in 2022, has since focused on managing investments through Avenir.