Huobi founder Leon Li’s Avenir Group sells trading team to Hong Kong-listed Bitfire for $1.6 million

Bitfire Group Holdings has agreed to pay $1.6 million to acquire the investment and trading team from Avenir Group, a firm backed by Leon Li Lin, founder of Huobi and one of Asia’s largest institutional Bitcoin investors, in a deal designed to move nearly $908 million in BlackRock Bitcoin ETF exposure into a licensed, publicly listed structure in Hong Kong.

Private Alpha Meets Public Regulation

The Bitfire Avenir Acquisition transfers Avenir’s core capabilities—including research, trading, and risk management—into Bitfire’s regulated ecosystem.

The deal also integrates a proprietary trading system with nearly two years of operational performance.

Avenir Group is backed by Leon Li Lin, a crypto industry heavyweight who controls roughly 30% of Bitfire’s shares.

His involvement underscores the strategic importance of the transaction, effectively shifting private Bitcoin trading operations into a compliant structure.

Industry observers note that this transition reflects a broader evolution. “Institutional investors demand regulatory clarity,” analysts say.

“Deals like the Bitfire Avenir Acquisition bridge that gap between innovation and compliance.”

Bitfire Avenir Acquisition Fuels Bitcoin Yield Ambitions

Central to the Bitfire Avenir Acquisition is the expansion of Alpha BTC, the firm’s flagship Bitcoin-denominated asset management product.

Designed for professional investors, the strategy combines direct Bitcoin exposure with yield-enhancing derivatives.

Bitfire CEO Livio Weng emphasized the significance of the offering in interviews with major outlets.

“Alpha BTC fills the gap for regulated Bitcoin-denominated enhancement strategies in Hong Kong,” he stated, highlighting how clients can generate returns on holdings within a compliant framework.

The strategy includes exposure to spot Bitcoin and the iShares Bitcoin Trust (IBIT), a U.S.-listed ETF managed by BlackRock.

By layering options strategies on top, Bitfire aims to deliver yield in a market where passive holding has traditionally dominated.

Bitfire Avenir Acquisition Growth Targets: Ambitious Capital Inflows

The Bitfire Avenir Acquisition is not just about capability—it’s about scale. As of April 2026, Bitfire manages approximately $293 million in assets across 400 active clients. However, the firm’s ambitions stretch far beyond its current footprint.

According to Weng, early investor interest has already reached around $500 million. The company now aims to attract capital equivalent to over 10,000 Bitcoin—roughly $760 million at current prices—within the next year.

Such targets hinge heavily on Hong Kong’s expanding family office sector, which is increasingly exploring digital assets as part of diversified portfolios.

The Bitfire Avenir Acquisition also reflects the enduring influence of Li’s crypto legacy. As founder of Huobi (now rebranded as HTX), Li played a key role in shaping early global crypto markets before selling his stake to Justin Sun in 2022.

Following that exit, Li established Avenir Group, which has grown into one of Asia’s largest institutional Bitcoin investors.

By the end of 2025, Avenir held approximately 18 million shares of BlackRock’s IBIT, valued at nearly $908 million.

This deep institutional exposure to Bitcoin now feeds directly into Bitfire’s regulated platform through the Bitfire Avenir Acquisition, strengthening its competitive edge.

Bitfire Avenir Acquisition Aligns with Hong Kong’s Crypto Vision

The Bitfire Avenir Acquisition arrives as Hong Kong accelerates its push to become a global leader in virtual assets.

Regulatory clarity from the Securities and Futures Commission has created a structured environment for licensed crypto services, including trading, advisory, and asset management.

Bitfire already holds multiple licenses, positioning it to capitalize on favorable policies, including proposed tax incentives for family offices investing in digital assets.

“This is a defining moment for Hong Kong’s crypto ecosystem,” market watchers note.

“The Bitfire Avenir Acquisition shows how capital, talent, and regulation are converging.”

The Bitfire Avenir Acquisition ultimately represents a high-stakes bet on the future of institutional crypto investing.

By combining private trading expertise with regulatory compliance, Bitfire is positioning itself at the forefront of a rapidly evolving market.

Yet, execution will be critical. Scaling assets under management while delivering consistent yield in volatile markets remains a formidable challenge.

Still, the message is clear: the Bitfire Avenir Acquisition is more than a transaction—it’s a signal that the next phase of crypto growth will be defined by regulated innovation and institutional capital.