Chinese crypto billionaire Li Lin’s private business empire will soon move to a Hong Kong-listed company that he controls, in a move designed to meet growing investor demand for digital assets.
That Hong Kong-listed company is Bitfire, a wealth management company, where Li is the largest shareholder. Bitfire said on Wednesday it will pay $1.6 million to acquire a trading system and investment team from Li’s own family office, Avenir Group, according to Reuters.
While structured as a purchase, the deal effectively transfers part of Li’s internal crypto operation to a publicly traded vehicle, giving him a clearer path to attracting institutional investors.
The timing reflects a broader shift in the region. Mainland China has banned cryptocurrency trading since 2021, but Hong Kong is positioning itself as a regulated hub for digital assets, attracting interest from companies seeking a compatible base. Hong Kong recently awarded stablecoin licenses to HSBC and Standard Chartered.
By acquiring Avenir’s capabilities, Bitfire plans to implement a bitcoin-focused strategy, “Alpha BTC,” targeting more than 10,000 bitcoins, worth approximately $760 million, in assets within a year.
The strategy will seek returns through derivatives trading, including options linked to bitcoin and products such as IBIT.
Avenir has built a significant position in bitcoin ETFs, with 18.3 million IBIT shares, issued by BlackRock, valued at around $908 million at the end of 2025, according to the company’s regulatory filing.
Li founded Huobi, now known as HTX, and built it into one of the world’s largest crypto exchanges before selling a majority stake to Justin Sun for around $1 billion in 2022. Since then, he has focused on managing investments through Avenir.
