🇨🇳The founder of Huobi launches a fund to purchase #ETH for $1,000,000,000.

Li Ling, the creator of the Huobi exchange and the head of Avenir Capital, teams up with the legends of the Asian crypto world Shen Bo (Fenbushi Capital), Xiao Feng (HashKey Group) and Tsai Wensheng (Meitu) to launch the Ethereum Trust for $1,000,000,000.

The goal is to provide institutional access to Ethereum and related assets, similar to how Bitcoin ETF opened the way for institutional money in BTC.

The announcement of the project is expected in 2-3 weeks.

Ethereum Trust can become an analogue of Grayscale for Asia.

Recall that Li Ling sold Huobi to Justin San after the ban on crypto trading in China and is now building a «clean» institutional empire from Hong Kong.

@Сryptoz ₿