Huobi founder Li Lin and prominent Asian crypto investors have raised $1 billion to launch an Ether-focused digital asset trust, including backers like HongShan Capital and Avenir Capital. The aim is to capitalize on rising institutional demand for Ethereum. The trust will be structured through a Nasdaq-listed shell company, with an official announcement expected soon.

The project has already raised $1 billion, with significant contributions from HongShan Capital Group and Li’s Avenir. The trust is designed to offer regulated exposure to Ether and related digital assets, reflecting the growing institutional interest in crypto. Li’s group is poised to meet the demand for Ethereum-based financial products as the market anticipates the approval of spot Ether ETFs.

Li Lin, who founded Huobi in 2013 and later established Avenir Capital, has joined forces with Shen Bo, Xiao Feng, and Cai Wensheng to launch the Ether trust. These partners are part of the first wave of Chinese crypto entrepreneurs who began investing in Ethereum shortly after its launch. Their initiative comes at a time when Ethereum’s role in institutional finance is increasingly prominent, as discussed at the Digital Assets Summit (DAS) 2025.

At the DAS 2025, industry figures like Consensys CEO Joseph Lubin and SharpLink Co-CEO Joseph Chalom highlighted Ethereum’s growing importance in institutional finance. Key catalysts for institutional adoption include on-chain fund issuance, interoperability, and regulatory clarity, cementing Ethereum’s dominance in DeFi and tokenized assets. Lubin noted Ethereum’s evolution towards scalability and compliance, instilling renewed institutional confidence.

Read more at Yahoo Finance: Huobi Founder Li Lin Raises $1B With Partners to Accumulate Ethereum