Mystery Hong Kong investor in BlackRock’s bitcoin ETF breaks silence — only to spark more questions
The post Mystery Hong Kong investor in BlackRock’s bitcoin ETF breaks silence — only to spark more questions appeared on BitcoinEthereumNews.com.
When a shell company called Laurore Ltd. filed a position of about $436 million in BlackRock’s iShares Bitcoin Trust (IBIT) exchange-traded fund — its first and only filing — listing a Hong Kong address and phone number, the crypto community took notice, and a social media frenzy began. What made it even more interesting is that it listed “Zhang Hui” as a director in the U.S. Securities and Exchange Commission (SEC) filing, a name as common in China as “John Smith” in the West, according to a X post by ProCap’s CIO, Jeff Park. Indeed, CoinDesk found over 100 Zhang Huis listed as directors of different companies in the Hong Kong Company Registry. (Hong Kong Company Registry) This sparked a week of speculation about potential Chinese capital entering the crypto market via purchases of spot bitcoin BTC$64,889.02 exchange-traded funds. “Smells like capital flight to me,” Park said in his post. Even Bloomberg’s ETF analysts weighed in, with James Seyffart replying to the post, “I spent almost an hour trying to figure this out earlier this morning, I got absolutely nowhere.” The mystery became even more intriguing when CoinDesk visited the Hong Kong address listed in Laurore’s SEC filing. The building directory showed that the suite was occupied by Avecamour Advice Ltd and not Laurore. Furthermore, Laurore, which holds the IBIT shares, is not incorporated in Hong Kong. (Sam Reynolds/CoinDesk) After CoinDesk’s attempts to find someone at Laurore to comment, the company has finally broken its silence. A spokesperson said the company’s owner prefers to keep a low profile, without revealing further details. But there are still more questions than answers. Who is Avecamour, and what is the connection between the two companies? And how does the mysterious “Zhang Hui” fit into all of this? ‘Private businesses’ CoinDesk searched through the…
Filed under: News - @ February 23, 2026 10:29 pm