Huobi Founder’s $1B ETH Venture: Digital Gold Rush or Delusion? 🚀💰

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The year 2025 has witnessed a veritable stampede of digital asset treasuries, as if Wall Street had suddenly discovered the joys of wearing a top hat and monocle while trading Ethereum. In this latest chapter of financial tomfoolery, Li Lin, erstwhile monarch of Huobi (now rebranded as HTX), and a posse of Ethereum’s earliest enthusiasts are plotting to conjure a $1 billion digital asset trust. One might almost believe they’re brewing a potion in a cauldron labeled “Institutional Adoption.”

ETH Trust’s Shell Game: A Nasdaq Acquisition in the Works?

According to Bloomberg’s October 17 report, Li Lin-accompanied by the likes of Hashkey Group’s Xiao Feng, Fenbushi Capital’s Shen Bo, and Meitu Inc.’s Cai Wensheng-is allegedly concocting a digital-asset trust to hoard ETH tokens. Imagine, if you will, a group of financiers with more ambition than sense, attempting to turn Ethereum into the next gold standard while sipping matcha lattes in a boardroom adorned with NFT art.

This venture, which aims to offer investors a “regulated” slice of the crypto pie, is but the latest in a series of schemes to lure institutions into the digital abyss. While ETFs have been all the rage in the U.S., our intrepid entrepreneurs have opted for the more avant-garde approach of acquiring a Nasdaq-listed shell company-because nothing says “financial prudence” like buying an empty vessel and filling it with digital confetti.

According to the Bloomberg report, the group has already raised a staggering $1 billion, including $200 million from Avenir Capital and $500 million from Asian institutions. One wonders if these figures are measured in dollars or in the number of sleepless nights endured by accountants.

With the details still being debated over lukewarm coffee and PowerPoints, the project’s fate remains as uncertain as a Bitcoin price chart at 3 a.m. An announcement, however, is expected within two to three weeks-a timeframe that may or may not be influenced by the moon’s phase or the stock market’s mood swings.

Ethereum: The “Treasury King” or Just a Gilded Piggy Bank?

Joseph Chalom of Sharplink Gaming has recently declared Ethereum the superior treasury asset, citing its volatility and staking prowess. One might suspect he’s never held a Bitcoin, or perhaps he finds the idea of staking Ether more thrilling than a game of croquet with a kangaroo.

Chalom’s argument-that Bitcoin’s lower volatility is due to ETFs hoarding coins like squirrels stockpiling acorns-sounds plausible until one recalls that squirrels do not, in fact, manage multi-billion-dollar portfolios. Meanwhile, Sharplink Gaming claims to hold 840,124 ETH tokens, valued at $3.19 billion. One can only assume this is the digital equivalent of keeping a dragon in the vault.

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2025-10-18 17:24