Li Lin, founder of Huobi, partners with others to raise $1 billion for Ether investment strategy through Nasdaq-listed shell company. $1 billion raised, including $500 million from HongShan Capital Group and $200 million from Avenir. Trust launch planned in two to three weeks with ETH backers’ support. ETH price at $3,857, up over 9% in past week.

Avenir holds 16.5 million shares of BlackRock’s iShares Bitcoin Trust ETF, IBIT. Company accelerating purchases of tokens like Ether and Solana, participating in $500-million Solana treasury launch in September. Investment strategies in crypto industry could be significantly impacted by Avenir’s moves.

Read more at Cointelegraph: Huobi Founder Raises $1B to Buy Ether: Report