Huobi Founder Li Lin Raises $1B With Partners to Accumulate Ethereum

Core Insights - Huobi founder Li Lin has partnered with early Ethereum backers to establish a $1 billion digital asset trust focused on accumulating Ether (ETH) [1][4][9] Group 1: Key Players and Structure - The trust is being developed in collaboration with notable figures such as Shen Bo of Fenbushi Capital, Xiao Feng of HashKey Group, and Cai Wensheng of Meitu Inc. [3][6] - The structure of the Ether trust will utilize a Nasdaq-listed shell company, providing a regulated framework for institutional investors [4][5] Group 2: Financial Backing and Goals - The initiative has successfully raised approximately $1 billion, with significant contributions including $500 million from HongShan Capital Group and $200 million from Avenir Capital [4][9] - The trust aims to provide regulated exposure to Ether and related digital assets, responding to increasing institutional interest in cryptocurrencies following the success of US spot Bitcoin ETFs [5][9] Group 3: Market Context and Future Outlook - The project is positioned to meet the growing demand for Ethereum-based financial products, especially with the anticipated approval of spot Ether ETFs in major markets [5] - Industry experts are optimistic about Ethereum's potential, suggesting it is entering a "trillion-dollar phase" as institutional interest continues to rise [8]