Key takeaways
Why is Li Lin’s billion-dollar plan important?
The Huobi founder’s new digital asset firm, backed by firms like HashKey, signals renewed Asian institutional push toward Ethereum.
How are Western institutions responding?
SharpLink Gaming raised $76.5 million to increase its treasury of 838,000 ETH, with potential for another $78.8 million.
Ethereum’s institutional narrative is accelerating again, this time led by Asia.
According to a Bloomberg According to the report, Huobi founder Li Lin is preparing to launch a billion-dollar digital asset company dedicated to managing and expanding Ethereum-focused treasuries.
Asia’s multi-billion dollar bet on Ethereum
Major regional investors including HashKey, Fenbushi Capital and Meitu are reportedly backing the new entity. It will focus on treasury management, yield generation and infrastructure development linked to the Ethereum ecosystem.
Sources suggest that Li Lin could try to acquire a Nasdaq-listed company to achieve greater compliance and operational reach.
This marks one of the largest independent ETH-focused capital deployments to date.
SharpLink adds western push
In the US, SharpLink Gaming has doubled down on Ethereum. On October 16, announced a registered direct offering of $76.5 million at a 12% premium to the market.
The company, one of the world’s largest corporate owners of Ether, confirmed that the proceeds will support further ETH accumulation.
With over 838,000 ETH already in its treasury, SharpLink’s latest raise shows a growing institutional appetite for Ethereum exposure.
Co-CEO Joseph Chalom said the offering structure “reflects strong institutional confidence” and will raise “ETH per share for our investors.”
If its 90-day premium purchase contract is exercised in full, SharpLink could raise an additional $78.8 million, further expanding its ETH position.
Ethereum Treasuries Approach $17 Billion
On-chain data supports the trend. Corporate and government wallets collectively hold 4.43 million ETH, valued at approximately $17.1 billion, according to CoinGecko data.
BitMine Immersion leads with 3.03 million ETH, followed by SharpLink, Bit Digital, and Coinbase.
Together, these entities represent over 3.6% of Ethereum’s circulating supply, a milestone that reflects the initial phase of corporate adoption of Bitcoin in 2021.
The bigger picture
While Bitcoin ETF flows continue to dominate the headlines, the Ethereum accumulation story is quietly unfolding.
The combination of Asian capital inflows and Western corporate treasuries highlights a structural shift.
If sustained, this Treasury-led accumulation phase could form the backbone of Ethereum’s next bullish narrative. At the time of writing, ETH was trading at around $3,800.
