li Lin Aims for $1 Billion ETH Treasury with New Digital Asset Trust
Li Lin, the founder of Huobi, is planning a massive move in the crypto world. He wants to create a $1 billion Ethereum (ETH) treasury. This initiative could make it one of the largest ETH accumulators globally.
Lin, also the chairman of avenir Capital, is teaming up with other big players in Asia. The group includes Fenbushi Capital’s Shen Bo, HashKey Group’s xiao Feng, and Meitu’s Cai Wensheng. together, they’ve formed a digital asset trust focused on buying ETH.
The fund has already secured $1 billion in commitments. Lin is investing $200 million thru Avenir Capital. Other Asian investors are adding $500 million. this venture could become one of the largest private ETH accumulations.
Avenir Group is a leader in crypto spot exchange-traded funds (ETFs) in Asia. Since 2024, they’ve grown their spot Bitcoin (BTC) ETFs in Asia. Since 2024, Avenir group has become a top holder of spot Bitcoin ETFs. This growth came after the U.S. Securities and Exchange Commission approved spot Bitcoin ETFs in early 2024.
Asia’s first spot BTC and ETH ETFs launched in April 2024. These ETFs trade on the Hong Kong Stock Exchange. They were issued by china Asset Management, bosera Asset Management, and Harvest Global Investments. the SEC also approved several spot Ethereum ETFs in July 2024.
Public companies are increasingly holding ETH as part of their treasury strategies. According to CoinGecko, 14 companies now hold over $16.9 billion in ETH. BitMine leads with over 3 million ETH, worth more than $11 billion. Others like SharpLink, Bit Digital, and ETHZilla are also accumulating the altcoin.
