https://finance.yahoo.com/news/asian-executives-join-forces-launch-185021707.html

Asian Executives Join Forces to Launch $1B Ethereum Trust Fund

A group of Asian executives with deep roots in crypto is setting up a new trust to accumulate Ethereum , with plans to raise around $1 billion. The effort comes as ETH faces price pressure, trading at $3,875 below its 50-day exponential moving average.

According to Bloomberg, Li Lin, who founded the Huobi exchange and now chairs Avenir Capital, is driving the project. He has teamed with Shen Bo of Fenbushi Capital, Xiao Feng from HashKey Group, and Meitu founder Cai Wensheng.

Notably, these figures were among the first in China to back Ethereum after its 2015 launch. The trust has secured $200 million from Avenir and $500 million from investors like HongShan Capital, with talks underway to use a Nasdaq-listed shell company to help structure the trust.

Colin Wu shared details on X, noting the collaboration aims to build a regulated vehicle for Ether exposure. This aligns with broader trends where early crypto players shift to institutional products offshore.

Li built Huobi into a top exchange before selling it in 2021 amid China’s crypto ban. Shen funded early blockchain ventures, while Xiao’s HashKey holds a Hong Kong virtual-asset license. Cai has backed multiple crypto projects alongside running Meitu.

P-Dawg, you're only a stubby 5'7" and under 200lbs, right? How would you have handled a sex-starved Richard Ramirez if he booted your door off its hinges and came charging through, knob in hand, with the fiery fury of Hell burning in his eyes? Would you be able to shake him off in time before he slips it in? Personally, I reckon he'd get you. He'd get you real good, nikka.