Huobi Founder Li Lin Raises $1 Billion for Major Ethereum Investment

Li Lin, the founder of cryptocurrency exchange Huobi and chair of Avenir Capital, has reportedly raised about $1 billion to support a large-scale investment strategy focused on Ethereum (ETH).

According to a Bloomberg report published on Friday, Li is collaborating with several prominent figures in the crypto industry to build what’s being described as an “Ether accumulation strategy.”

The initiative brings together Fenbushi Capital co-founder Shen Bo, HashKey Group CEO Xiao Feng, and Meitu founder Cai Wensheng. The group plans to execute the investment through a Nasdaq-listed shell company, with backing that includes $500 million from HongShan Capital Group and $200 million from Avenir Capital. The announcement of official launch of the trust is possible within the next two to three weeks.

A Strategic Shift Toward Ethereum

Li’s latest move signals growing confidence in Ethereum’s long-term potential amid renewed institutional interest in blockchain technology. The project’s size and high-profile partnerships suggest it could become one of the largest organized efforts to accumulate ETH.

Li’s background in crypto gives the initiative added credibility. He founded Huobi in 2013, one of the earliest and most influential cryptocurrency exchanges in Asia. However, he later sold the company to entrepreneur Justin Sun, a deal that led to legal tensions and disputes over the use of the Huobi Global brand and related fraud allegations.

At the time of writing, data from Nansen showed Ethereum trading at $3,857, marking a 9% increase over the past week — a potential reflection of growing optimism surrounding Ether-focused investments.

Avenir’s Broader Crypto Ambitions

Despite this new focus on Ethereum, Avenir Capital remains one of the most active institutional holders of Bitcoin. In August, the firm reported holding about 16.5 million shares of BlackRock’s iShares Bitcoin Trust (IBIT), one of the largest Bitcoin exchange-traded funds.

Beyond Bitcoin, Avenir has also expanded into other blockchain assets, including a $500 million Solana treasury launched in September. The firm’s diversified approach across multiple cryptocurrencies underscores how traditional investment strategies are rapidly evolving to accommodate the next phase of digital finance.