Li Lin, founder of Huobi exchange and chairman of Avenir Capital, has launched a $1 billion Ethereum (ETH) trust backed by prominent Asian investors. This trust aims to capitalize on the growing institutional demand for ETH, aligning with the success of Bitcoin ETFs in the US and increasing awareness of regulated cryptocurrency exposure. Li partnered with Fenbushi Capital co-founder Shen Bo, HashKey Group CEO Xiao Feng, and Meitu founder Cai Wensheng to establish the vehicle. The group is currently finalizing a deal to acquire a Nasdaq-listed company to structure the trust, aiming for an official launch within weeks. 1B ETH trust reflects growing institutional confidence in Ethereum, following Bitcoin ETF success and renewed demand for regulated exposure to ETH. This move aligns with global trends among Asian asset managers seeking to capture institutional demand for ETH after U.S. Bitcoin ETFs were approved. The trust has secured commitments of nearly $1 billion, including significant backing from Avenir Capital and HongShan Capital Group. Discussions are ongoing with other institutional investors across Asia to further bolster the fund’s size before launch. Li’s track record in digital assets, established through Huobi exchange, provides a blueprint for his new venture. He has invested heavily in Bitcoin ETFs, demonstrating an expertise in navigating regulatory landscapes and capitalizing on long-term investment strategies. The trust represents Li’s focus on direct asset accumulation rather than using the umbrella of ETFs. Institutional investors are increasingly turning to this approach, seeking regulated, long-term exposure to ETH for their portfolios. This development further solidifies Asia’s position as a key player in shaping institutional Ethereum investments, with the potential for similar trust structures across other regions.