Hong Kong-based investment firm Avenir Group has reported owning $599 million worth of shares in BlackRock's Bitcoin ETF, making it a major institutional player in the cryptocurrency market. In the second quarter of 2024, Avenir Group became the largest institutional holder of both BlackRock's IBIT and Fidelity's Wise Origin Bitcoin Fund. This significant investment of $384 million highlights Avenir Group's strong commitment to emerging technologies and presence in the cryptocurrency market. Hong Kong is also positioning itself as a global cryptocurrency hub with the development of regulations by the Securities and Futures Commission that support industry growth and compliance.



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