Chinese crypto entrepreneur Li Lin is moving part of his private trading business into Hong Kong-listed Bitfire Group, according to a Reuters report published on April 22. The transaction will shift Avenir Group’s investment team and trading systems to Bitfire for $1.6 million as the company develops bitcoin-linked wealth products.
Li Lin’s Post-Huobi Strategy
The move represents another phase in Li’s business evolution following his sale of his controlling stake in Huobi, now HTX, in 2022. Since then, he has concentrated on Avenir Group, his family office, which Reuters described as Asia’s largest investor in spot bitcoin exchange-traded funds by the end of 2025. According to the report, Avenir held 18.3 million shares of BlackRock’s iShares Bitcoin Trust, valued at approximately $908 million at that time.
The transaction also reflects Hong Kong’s positioning as a regulated digital asset center, contrasting with mainland China, where crypto trading remains banned. Reuters reported that Bitfire sees an opportunity to build services for Hong Kong-listed firms and other investors seeking regulated bitcoin exposure.
Bitfire’s Bitcoin Product Strategy
Beyond acquiring Avenir’s team and trading systems, Bitfire plans to launch a regulated bitcoin-denominated asset management product called Alpha BTC, according to Reuters. The strategy will incorporate bitcoin-linked derivatives, including options and products tied to BlackRock’s IBIT fund.
Bitfire CEO Livio Weng stated that the firm aims to attract more than 10,000 BTC in assets within a year. Based on Reuters’ report, that target would represent approximately $760 million at current prices. The company is positioning itself to serve investors seeking products beyond simple spot bitcoin exposure.
Reuters also reported that Bitfire estimates at least 40 Hong Kong-listed companies already hold bitcoin, creating a potential client base for wealth and treasury products tied to digital assets, particularly as listed firms seek regulated structures to manage those holdings.
Li Lin’s Ongoing Hong Kong Connections
Li Lin maintains ties to Hong Kong-listed crypto-related companies. Sinohope Technology Holdings’ 2025 annual report listed him as chairman, confirming his formal role in a public company within the sector. This connection demonstrates that Li operates through both private entities and listed platforms, positioning him within Hong Kong’s expanding digital asset finance ecosystem at a time when the city is working to expand its regulatory role in this space.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Ripple Opens Swell 2026 Registration for NYC October Event, Merging Swell and Apex
Gate News message, April 23 — Ripple has launched registration for Swell 2026, its flagship conference taking place October 27-29 in New York City at The Shed in Hudson Yards. For the first time, Ripple is merging its Swell and Apex events into a single unified
GateNews8m ago
Jumper App Integrates TRON Network, Enabling Single-Transaction Stablecoin Bridging Across 14 Blockchains
Gate News message, April 23 — Jumper App announced the integration of the TRON network, enabling users to bridge stablecoins such as USDT and USDC across multiple blockchains in a single transaction. The integration initially connects 14 blockchains and extends the platform's overall reach to more t
GateNews17m ago
Kalshi Launches Commodities Hub With Pyth as Data Provider for Oil, Gold, and Lithium Markets
Gate News message, April 23 — Prediction market platform Kalshi has partnered with crypto oracle protocol Pyth as a data provider for its newly launched Commodities Hub, an interface enabling users to trade binary options on commodities including Brent crude oil, gold, lithium, and soybeans. Pyth wi
GateNews24m ago
Sberbank plans to offer cryptocurrency trading; the Russian Duma has passed the bill on its first reading
According to a report by TASS on April 22, Ruslan Vestrovskiy, senior vice president and head of wealth management at Russia’s Sberbank, said at the Moscow Exchange Forum that once cryptocurrency-related regulation is implemented and exchanges begin organized trading, Sberbank will provide its customers with cryptocurrency trading services. On the same day, the Russian State Duma passed the first reading of a bill on cryptocurrency regulation.
MarketWhisper34m ago
South Korea's KRX to Build Tokenized Securities Platform, Establishes New Securities Market
Gate News message, April 23 — South Korea's Korea Exchange (KRX) announced on April 23 that it is constructing a domestic tokenized securities (STO) platform and working to establish a new securities market to support the initiative.
According to KRX Chairman Jung Eun-bo, the exchange is
GateNews38m ago
Revolut CEO Targets France and U.S. Licenses This Year as Key Growth Markets
Gate News message, April 23 — Revolut's Western Europe CEO Béatrice Cossa-Dumurgier said the crypto-friendly fintech company aims to secure licenses in France and the United States this year as part of its
GateNews46m ago
