Li Lin, the founder of Huobi and chairman of Avenir Capital, is set to launch a $1 billion digital asset trust that will buy and hold Ether. The plan, confirmed by people close to the deal, brings together some of Asia’s earliest Ethereum investors.
The group includes Shen Bo of Fenbushi Capital, Xiao Feng of HashKey Group, and Meitu founder Cai Wensheng. Meanwhile, the new trust, based in Hong Kong, could be announced within the next two to three weeks. It aims to offer regulated access to Ether as global investors look for safer ways to join the crypto market.
According to Bloomberg’s report, the team has already raised around $1 billion. This includes $200 million from Li Lin’s Avenir Capital and about $500 million from major Asian institutional investors like HongShan Capital Group.
Furthermore, the team is now in talks to buy a Nasdaq-listed shell company to help set up the structure. Details may still change, but insiders say the talks are at an advanced stage. Representatives for Li Lin, Avenir, and HongShan declined to comment, while the other investors have not responded to requests for comment.
The new project also shows how leading figures from China’s first crypto wave are returning through more regulated channels. Previously, Li Lin built Huobi into one of the world’s biggest exchanges before selling it to entrepreneur Justin Sun in 2021 after China’s ban on digital asset trading. Later, he started Avenir Capital in Hong Kong, which manages over $1 billion in Bitcoin exchange-traded funds.
In addition, Shen Bo, Xiao Feng, and Cai Wensheng were early supporters of Ethereum, investing soon after the project began in 2015. Their move now signals a shift toward structured, compliant investment options instead of retail-focused platforms.
That said, if completed, this initiative could become one of the largest Ether-holding entities worldwide and may offer new support for the Ethereum market at a time when prices are under pressure.
Also Read: Bitcoin Falls Below $104K Despite Trump’s China Remarks
