tl;dr
Yunfeng Financial Group, the Hong Kong-listed firm with ties to Jack Ma, has made a bold move in the crypto world by purchasing 10,000 Ethereum (ETH) worth approximately $44 million. The acquisition, revealed in filings on Sept. 2, marks the company’s first foray into building an Ethereum treasury—a...
Yunfeng Financial Group, the Hong Kong-listed firm with ties to Jack Ma, has made a bold move in the crypto world by purchasing 10,000 Ethereum (ETH) worth approximately $44 million. The acquisition, revealed in filings on Sept. 2, marks the company’s first foray into building an Ethereum treasury—a strategy that’s gaining traction among public companies aiming to diversify their balance sheets.
This isn’t just a random bet; it’s part of a broader trend. Firms like SharpLink Gaming and Bitmine have recently adopted similar approaches, using Ethereum as a long-term asset. For Yunfeng, the purchase isn’t just about speculation. The company, which offers insurance, brokerage, and asset management services, sees the move as a way to reduce its reliance on traditional currencies while fueling its expansion into Web3, real-world assets, digital currencies, and AI.
Yunfeng’s strategy isn’t new. In July, the firm outlined its pivot toward next-generation financial infrastructure, a shift that aligns with its parent company, Yunfeng Capital. Co-founded by Jack Ma in 2010, Yunfeng Capital also played a role in launching Ant Group and Alibaba. Now, Yunfeng is leveraging its connections to explore blockchain’s potential, positioning itself as a bridge between traditional finance and the decentralized future.
The move has already had a tangible impact on the company’s stock. Shares surged 9.55% after the announcement, closing at 3.67 Hong Kong dollars (47 U.S. cents) per share. Investors seem to be betting that Yunfeng’s embrace of Ethereum could unlock new growth avenues, especially as more corporations eye crypto treasuries as a hedge against fiat volatility.
Ethereum’s role in this shift is no accident. As the world’s second-largest cryptocurrency by market value, ETH has become a symbol of institutional acceptance. With Ethereum trading at $4,264 as of press time—a 2.12% drop over the past 24 hours—its adoption by listed firms signals a growing confidence in blockchain-based infrastructure.
For Asia-based companies, Yunfeng’s move is a wake-up call. It shows how digital assets are evolving from speculative playthings into strategic tools for corporate finance. As more firms follow suit, Ethereum’s journey from a niche experiment to a mainstream asset could just be getting started.
So, what’s next? Will this trend accelerate, or is Yunfeng’s gamble just the beginning of a larger shift? One thing’s clear: the line between traditional finance and crypto is blurring faster than ever.