What to know:
- Li Lin, the founder of Huobi and chairman of Hong Kong-based Avenir Capital, is spearheading a new $1 billion ether (ETH) trust alongside several of Asia’s most influential early Ethereum investors, according to Bloomberg.
- The group is in talks to acquire a Nasdaq-listed company to structure the vehicle, with a formal launch expected in the coming weeks.
- The move comes as institutional appetite for ether grows, with public companies already holding over 4.4 million ETH ($16.9 billion), CoinGecko data shows.
Li Lin, the founder of Huobi and chairman of Hong Kong-based Avenir Capital, is spearheading a new $1 billion ether  trust alongside several of Asia’s most influential early Ethereum investors, according to Bloomberg.
The report, which cites people familiar with the matter, claims Li has teamed up with Fenbushi Capital co-founder Shen Bo, HashKey Group CEO Xiao Feng, and Meitu founder Cai Wensheng to form a digital asset trust designed to accumulate and hold Ether.
