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.
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