Odaily Planet Daily reports that New Fire Technology (1611.HK) announced on April 22 that it will acquire the investment team and trading system of Li Lin’s family office, Avenir Group, for $1.6 million. Following the acquisition, New Fire Technology plans to launch Alpha BTC, a Bitcoin-denominated asset management service, aiming to attract over 10,000 BTC in investments within one year, equivalent to approximately $760 million. The strategy will generate returns through derivatives trading such as options, using Bitcoin or IBIT ETF as underlying assets, targeting crypto-native investors and local Hong Kong enterprises. As of the end of 2025, Avenir Group held 18.3 million shares of BlackRock’s iShares Bitcoin Trust, valued at $9.08 billion.
New Fire Tech Acquires Avenir Group's Trading Team and Launches Bitcoin Asset Management Service
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Summary
New Fire Tech (1611.HK) announced on April 22 that it has acquired Avenir Group’s investment team and trading system for $1.6 million. The company will launch Alpha BTC, a Bitcoin-denominated asset management service, targeting over 10,000 BTC (approximately $760 million) within one year. The strategy employs Bitcoin and the IBIT ETF for derivatives trading. Avenir Group holds 18.3 million shares of the iShares Bitcoin Trust, valued at $908 million as of 2025. This development underscores New Fire’s expansion into crypto-native and institutional markets in Hong Kong.
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