Li Lin Moves Crypto Trading Empire Into Hong Kong-Listed Bitfire to Tap Institutional Demand

Chinese crypto billionaire Li Lin is taking a strategic step to expand his digital asset footprint by shifting part of his private trading operations into a publicly listed Hong Kong company. The move reflects rising global demand for regulated crypto investment opportunities and highlights Hong Kong’s growing role as a digital asset hub.

Bitfire, a Hong Kong-listed wealth management firm where Li is the largest shareholder, announced it will acquire a trading system and investment team from Avenir Group, Li’s family office, for $1.6 million. While structured as a standard acquisition, the transaction effectively integrates Li’s private crypto trading capabilities into a public entity, opening the door to institutional investors seeking exposure to digital assets.

This development comes as Hong Kong positions itself as a compliant and regulated center for cryptocurrency activity, in contrast to mainland China’s ongoing crypto trading ban since 2021. The region has been actively building its digital finance ecosystem, recently granting stablecoin-related approvals to major financial institutions like HSBC and Standard Chartered, further boosting confidence among global investors.

Following the acquisition, Bitfire plans to launch a bitcoin-focused investment strategy called “Alpha BTC.” The initiative aims to manage over 10,000 bitcoins—valued at approximately $760 million—within the next year. The strategy will leverage advanced derivatives trading, including bitcoin options and exposure to exchange-traded products such as BlackRock’s IBIT.

Avenir Group has already established a strong presence in crypto ETFs, holding 18.3 million shares of BlackRock’s IBIT, valued at around $908 million by the end of 2025, according to regulatory filings. This positions Bitfire to scale quickly in the competitive digital asset investment space.

Li Lin, founder of Huobi (now HTX), previously built one of the world’s leading cryptocurrency exchanges before selling his controlling stake to Justin Sun in 2022 for roughly $1 billion. Since then, he has focused on managing crypto and digital asset investments through Avenir, making this latest move a significant step toward institutionalizing his trading operations.