Chinese crypto billionaire Li Lin is integrating his private trading arm, Avenir Group, into Bitfire Group, a Hong Kong-listed wealth manager where he holds the largest stake. Bitfire will acquire Avenir's crypto trading systems and staff for $1.6 million.
This strategic move allows Li's operation to leverage a public platform to attract institutional investors, aligning with Hong Kong's push to become a regulated digital asset hub following mainland China's trading ban. Bitfire, under Li's control, plans to launch "Alpha BTC," a strategy focused on bitcoin-linked assets and derivatives, aiming to manage over $700 million in bitcoin-linked assets within a year. Avenir's significant holdings in BlackRock's IBIT, valued at approximately $908 million at the end of 2025, will bolster this initiative. Li previously founded the major crypto exchange Huobi, now HTX, before selling his stake in 2022 to focus on his investment firm, Avenir.