Mystery Hong Kong investor in BlackRock's bitcoin ETF breaks silence — only to spark more questions
A shell company, Laurore Ltd., revealed a $436 million stake in BlackRock's IBIT, but its spokesperson offered few details, deepening the mystery.Summary
Laurore Ltd., a shell company listing a Hong Kong address, caused a stir by disclosing a $436 million stake in BlackRock's iShares Bitcoin Trust (IBIT) via an SEC filing, listing 'Zhang Hui' as a director. This sparked speculation about Chinese capital entering the crypto market. Further investigation by CoinDesk revealed the listed Hong Kong address was occupied by a different entity, Avecamour Advice Ltd, and Laurore itself is not incorporated in Hong Kong. After contact, a spokesperson for Laurore stated the owner prefers to keep a low profile, confirming the owner is also a director of Avecamour, implying Zhang Hui is the principal. The spokesperson claimed the investment reflects 'personal investment conviction' but refused to disclose further ownership details, as they are 'private businesses.' This lack of clarity leaves open whether the investment represents capital flight from mainland China or simply a Hong Kong-based entity choosing the more liquid U.S. ETF over local options.
(Source：CoinDesk)