Li Lin's Private Trading Division to be Absorbed by Hong Kong-Listed Wealth Management Company

The private trading operations of Chinese cryptocurrency mogul Li Lin are set to be integrated into a Hong Kong-listed company under his control, catering to the increasing demand from investors for digital assets. The company in question, Bitfire, a wealth management firm where Li is the largest shareholder, announced on Wednesday that it will be acquiring a trading system and investment team from Li's family office, Avenir Group, for $1.6 million, as reported by Reuters. This deal effectively transfers part of Li's in-house cryptocurrency operations to a publicly listed entity, providing a clearer path to attracting institutional investors. The move is timely, given the regional shift, with mainland China having banned 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. By acquiring Avenir's capabilities, Bitfire plans 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 tied to bitcoin and products like the IBIT. Avenir has already built 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, according to the company's regulatory filing. Li, the founder of Huobi, now known as HTX, and 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.