Avenir Group, founded by Li Lin, has disclosed its Bitcoin ETF holdings for the fourth quarter of 2025, revealing that its position in BlackRock IBIT remained stable. As of the end of 2025, Avenir Group held 18,287,323 shares of BlackRock IBIT, with only a minor adjustment of approximately -0.053% due to trading friction. Since the second quarter of 2024, Avenir Group has consistently held the position as the largest institutional holder of Bitcoin ETFs in Asia for seven consecutive quarters.