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Xinhua Technology acquires Avenir Group's trading team and launches Bitcoin asset management services
BlockBeats News, April 23 — New Fire Technology (1611.HK) recently announced the acquisition of an investment team and trading system under the Avenir Group, the family office of Li Lin, for $1.6 million. After the acquisition is completed, the company will launch an asset management product called “Alpha BTC” denominated in Bitcoin. This service aims to attract over 10k Bitcoins within a year, estimated at approximately $760 million at current values. Strategically, Alpha BTC will use Bitcoin or the IBIT ETF as underlying assets, generating returns through derivatives trading such as options. Its target clients include native crypto investors and local businesses in Hong Kong.
It is worth noting that by the end of 2025, Avenir Group will hold a total of 18.3 million shares of the BlackRock iShares Bitcoin Trust, corresponding to an estimated valuation of about $908 million.