Hong Kong targets 10,000 BTC in purchases for Asia's first regulated Bitcoin capital pool

Hong Kong-listed Bitfire (backed by HTX founder Li Lin/Avenir Group) aims to build Asia’s first regulated Bitcoin capital pool targeting more than 10,000 BTC (roughly $760M), using derivatives and links to US ETF exposure such as BlackRock’s IBIT. The plan is part of a broader Hong Kong push — SFC licensing, shared global order‑book rules and a stablecoin regime — to repatriate institutional Bitcoin flows from US ETFs and offshore venues into a local, regulated wrapper. If successful, the move could shift some institutional flows and price‑discovery away from US markets, reshape regional liquidity, and create new custody/derivatives products; but size is small versus US ETFs and derivative-based strategies carry basis/volatility risks and political/regulatory constraints.