Li Lin Integrates Avenir Crypto Operations into Hong Kong-Listed Bitfire

Bitfire, a Hong Kong-listed wealth management company, has announced the acquisition of a trading system and investment team from Avenir Group, the family office of crypto entrepreneur Li Lin. The transaction, valued at $1.6 million, effectively migrates Li's private crypto trading operations into a public vehicle, providing a clearer pathway to attract institutional capital. This strategic shift comes as Hong Kong aggressively positions itself as a global hub for regulated digital assets, contrasting with mainland China's strict ban on cryptocurrency trading since 2021. The move follows a broader trend of regulatory openness in the region, highlighted by recent stablecoin licenses granted to major institutions such as HSBC and Standard Chartered. As part of the integration, Bitfire intends to launch 'Alpha BTC,' a specialized strategy targeting more than 10,000 bitcoins—approximately $760 million in assets—within the next year. The strategy will seek returns through derivatives trading, including options and products like the IBIT ETF. The scale of the operation is underscored by Avenir's existing portfolio. According to regulatory filings, the family office held 18.3 million shares of BlackRock's IBIT as of the end of 2025, with a valuation of roughly $908 million. Li Lin previously founded Huobi, now known as HTX, which he grew into one of the world's largest exchanges before selling a controlling stake to Justin Sun in 2022 for approximately $1 billion. Since then, he has focused on managing his wealth through the Avenir Group.