Hong Kong Firm Buys 10,000 ETH in $44M Crypto Reserve Move
Yunfeng Financial Group Limited (HKEX: 376) has taken a decisive step into digital assets, acquiring 10,000 ETH valued at roughly $44 million.
The Hong Kong–listed firm confirmed that the purchase was made using existing cash reserves and will be recorded as part of its official asset portfolio. The move follows the company’s recent declaration that it would pivot toward Web3, AI, and tokenised finance as core pillars of its growth strategy.
By adding Ethereum to its reserves, Yunfeng becomes one of the few publicly traded financial institutions in Asia to hold a major crypto asset directly on its balance sheet. While many traditional firms continue to deliberate over white papers and pilot projects, Yunfeng is placing capital on-chain and signalling confidence in Ethereum’s role as a foundation for decentralised finance.
“Including ETH in our reserves enhances our asset structure and reduces dependency on traditional currencies,” the company said in a statement. Beyond serving as a reserve asset, Ethereum may also find practical use across Yunfeng’s insurance offerings and other business lines that could benefit from blockchain integration.
The acquisition does not cross Hong Kong’s 5% disclosure threshold under Chapter 14 of the Listing Rules, meaning no additional filings were required. Still, Yunfeng hinted at the possibility of further ETH purchases, which could trigger more formal disclosures if thresholds are surpassed.
While the firm acknowledged the volatility and regulatory uncertainties surrounding crypto, its move underscores a growing shift: digital assets are no longer peripheral experiments but are starting to be woven directly into traditional financial models. Yunfeng’s entry into Ethereum could encourage other listed firms in the region to follow suit.
