Li Lin’s Vision for Ethereum Accumulation
Li Lin, the visionary behind the Huobi cryptocurrency exchange, is taking significant steps towards establishing a major Ethereum (ETH) treasury, with aspirations to gather as much as $1 billion in funds. His strategy aims to position this initiative as one of the largest private accumulators of ETH, reflecting a notable shift towards digital asset investments.
A Collaborative Effort
Lin, who also leads Avenir Capital, an investment firm based in Hong Kong that specializes in uniting traditional finance with digital assets, is set to introduce a new Ethereum trust. This endeavor is a collaborative effort with a notable group of distinguished investors across Asia, including:
- Shen Bo, co-founder of Fenbushi Capital
- Xiao Feng, CEO of HashKey Group
- Cai Wensheng, founder of Meitu
Together, these influential figures have established a digital asset trust that is actively pursuing an aggressive strategy to accumulate Ethereum.
Funding Commitments
Reports indicate that the fund has already secured commitments totaling $1 billion, with Lin personally investing $200 million through his Avenir Capital. Additionally, several institutional investors from Asia are eager to pledge around $500 million for this noteworthy project. Among these are prominent firms such as HongShan Capital Group, which are looking to dive into what could be one of the most substantial private collections of Ethereum ever compiled.
Avenir Capital’s Leadership in Crypto ETFs
Avenir Capital is recognized as a leader in providing cryptocurrency spot exchange-traded funds (ETFs) in Asia. Since the beginning of 2024, the firm has rapidly expanded its offerings in spot Bitcoin (BTC) ETFs, becoming one of the foremost institutional holders of Bitcoin. The initiation of U.S. spot Bitcoin ETFs was greenlit in early 2024 after receiving approval from the Securities and Exchange Commission (SEC).
Asia also witnessed the launch of its first Ethereum and Bitcoin spot ETFs in April 2024, coinciding with an unprecedented rollout by three Chinese asset management firms, namely:
- China Asset Management
- Bosera Asset Management
- Harvest Global Investments
These launches occurred within the Hong Kong Stock Exchange.
Future of Ethereum ETFs
Moreover, the SEC authorized various spot Ethereum ETFs to commence trading in July 2024, paving the way for a significant surge in inflows into crypto ETFs later that year. Notably, Ethereum’s popularity soared, sometimes surpassing Bitcoin as publicly-traded companies began adopting ETH treasury strategies.
Corporate Ethereum Holdings
According to data from CoinGecko, currently, 14 public companies have amassed more than $16.9 billion in Ethereum as part of their treasury strategies, with BitMine holding the title of the largest Ethereum corporate holder with over 3 million ETH valued at more than $11 billion. Other keen contenders in Ethereum accumulation include SharpLink, Bit Digital, and ETHZilla.
