Huobi founder Li Lin has reportedly raised 1 billion to launch a new Ether-focused trust, marking one of the largest independent investments tied to Ethereum to date.
Li, who also serves as chairman of Avenir Capital, is teaming up with several prominent figures in Asias blockchain scene. The group includes Shen Bo, co-founder of Fenbushi Capital, Xiao Feng, chairman and CEO of HashKey Group, and Cai Wensheng, founder of Meitu Inc., a well-known crypto investor in China.
The initiative will focus on accumulating Ether ETH through a digital-asset trust structured under a Nasdaq-listed shell company, according to people familiar with the matter. Early reports suggest that the fund has already secured 500 million from HongShan Capital Group formerly Sequoia China and 200 million from Avenir Capital.
