Huobi founder Li Lin to join Asian group to launch $1B ETH treasury company

Li Lin, the founder of cryptocurrency exchange Huobi and chairman of Hong Kong-based investment firm Avenir Capital, is reportedly joining some of the early backers of Ethereum to establish a $1 billion ETH-focused treasury project, marking one of Asia’s largest coordinated bets on the world’s second-largest blockchain ￰0￱ is joining forces with several of Asia’s earliest and most influential Ethereum backers — Shen Bo, co-founder of Fenbushi Capital; Xiao Feng, chairman and CEO of HashKey Group; and Cai Wensheng, founder of Meitu ￰1￱ group plans to create a regulated investment trust that will accumulate Ether (ETH) and related assets as institutional interest in digital assets ￰2￱ project, still under development, has reportedly raised about $1 billion so far, including $200 million from Li’s Avenir Capital and another $500 million from Asian institutional investors such as HongShan Capital ￰3￱ consortium is said to be in talks to acquire a Nasdaq-listed shell company to facilitate the ￰4￱ treasury wants to give investors regulated exposure to ETH as more institutional adopters are taking a favorable look at the digital asset following the relative success of ￰5￱ close to the deal said that details of the plan remain fluid and could change before ￰6￱ official announcement of the treasury is expected within two to three few weeks.

A second act for China’s crypto pioneers Li sold Huobi , one of the world’s oldest and largest crypto exchanges, to entrepreneur Justin Sun after China’s 2021 ban on digital asset ￰7￱ new partners represent some of the “who’s who” of the Chinese crypto elite’s first ￰8￱ Bo’s Fenbushi Capital was among the earliest institutional investors in Ethereum’s ecosystem, funding multiple blockchain infrastructure projects in the ￰9￱ Feng’s HashKey Group, meanwhile, was one of the first firms to obtain Hong Kong’s virtual-asset service provider license, giving it regulatory credibility that many mainland-linked crypto ventures ￰10￱ the institutional ETH wave The new trust could become one of the largest dedicated institutional vehicles for Ethereum accumulation should it decide to go beyond $1 billion, rivaling the holdings of existing funds such as BitMine, SharpLink Gaming and Grayscale’s Ethereum ￰11￱ the market crash that occurred last week, ETH has been trading below $4,000, and according to investors like Tom Lee, this serves as a buying ￰12￱ has been active since then, accumulating more ETH, while SharpLink Gaming recently sold its shares at a premium to raise funds to add more ETH to its treasury ￰13￱ institutional acquisitions are ongoing, and it looks as if there will be more to come thanks to this upcoming ￰14￱ for the post-ban era With mainland China’s ban still in effect, Hong Kong has emerged as a bridge for regulated digital asset innovation, supported by a licensing framework that welcomes institutional investors while keeping retail speculation in check.

HashKey, for instance, was the first to obtain both a Type 1 (dealing in securities) and Type 7 (automated trading services) license for digital assets in Hong ￰15￱ Avenir Capital, Li has been able to build a solid track record in ￰16￱ firm is one of the largest Bitcoin ETF holders in Asia, reportedly boasting over $1 billion in assets under management, and that gives them a degree of credibility with regulators and investors ￰17￱ up to $30,050 in trading rewards when you join Bybit today