Jack Ma-Linked Yunfeng’s $44M ETH Purchase: Hong Kong’s Massive Ethereum Bet Revealed?

Yunfeng Capital just dropped $44 million on Ethereum—10,000 ETH in a single move that's raising eyebrows across traditional finance circles.

The Jack Ma Connection

When a firm tied to China's most famous entrepreneur makes a crypto play this size, markets pay attention. This isn't some retail investor dipping toes—it's institutional money diving headfirst into digital assets.

Hong Kong's Crypto Ambitions

The purchase signals more than just confidence in Ethereum's technology. It suggests Hong Kong's positioning itself as Asia's crypto gateway while mainland China keeps restrictions tight. Smart move or regulatory tightrope? Probably both.

What The Numbers Say

Forty-four million dollars would be a rounding error for legacy hedge funds playing with boomer stocks. In crypto? It's a statement—one that screams 'we're betting on blockchain infrastructure, not just speculation.'

Why This Matters Beyond The Hype

Forget the price predictions and moon shots. When traditional finance giants finally embrace crypto, they don't buy memecoins—they accumulate fundamental assets. Ethereum's proof-of-stake transition and scaling solutions clearly passed their due diligence check. Meanwhile, Wall Street still thinks 'blockchain' is just a fancy Excel spreadsheet.

Corporate Ethereum Reserves Climb to $19B as Yunfeng Enters the Market

The filing emphasized that the acquisition is aligned with Yunfeng’s long-term strategy.

The company said Ethereum’s inclusion in its treasury WOULD support tokenization activities for RWAs, provide infrastructure for Web3 innovation, and enhance its ability to integrate financial services with emerging technology.

The group also hinted at exploring potential applications for ETH in its insurance business and broader fintech offerings.

Yunfeng stressed that it would continue to monitor market developments and regulatory changes before expanding its holdings further.

The board cautioned that cryptocurrency remains highly volatile and warned shareholders to exercise care when trading its stock.

The Hong Kong Stock Exchange and the local securities regulator also distanced themselves from the contents of the filing, noting that they take “no responsibility” for its accuracy or completeness.

The acquisition places Yunfeng alongside a growing group of corporate and institutional entities treating ETH as a strategic reserve.

According to Strategic ETH Reserve (SER) data, structured entities now hold 4.44 million ETH valued at around $19 billion, representing 3.67% of Ethereum’s total supply.

The largest single holder is Bitmine Immersion Tech, which controls 1.8 million ETH worth roughly $7.7 billion, accounting for more than 40% of all SER reserves.

Other major entities include SharpLink Gaming with 797,700 ETH ($3.4 billion), The Ether Machine with 345,400 ETH ($1.5 billion), and the Ethereum Foundation with 231,600 ETH ($1 billion).

Coinbase also maintains 136,800 ETH ($588 million), largely tied to customer balances and staking operations.

Analysts warn that sustained redemptions could temporarily weigh on prices, even as long-term accumulation by corporations like Yunfeng suggests growing confidence in Ethereum as an institutional-grade asset.

The concentration of reserves also remains a key market factor. Bitmine and SharpLink together account for over 58% of all ETH held by SER entities, raising questions about liquidity risks if these major players adjust their positions.

Still, the growing role of regulated companies, ETFs, and corporate treasuries shows Ethereum’s accelerating adoption among institutional investors.

Yunfeng’s $44 million move may be small compared with the billions held by global giants, but it carries symbolic weight in Hong Kong, a market positioning itself as a digital asset hub.

Japan’s Corporate Crypto Adoption Surges With Multi-Billion-Dollar Treasury Plans

While Hong Kong-linked funds are making headlines with Ethereum bets, Japan is quietly building one of the world’s most aggressive corporate crypto adoption waves.

A string of Tokyo-listed companies has begun reshaping their balance sheets around Bitcoin and altcoins, showing that Asia’s crypto race is no longer just about retail traders.

On August 31, Tokyo-based gaming firm Gumi announced plans to purchase ¥2.5 billion ($17 million) worth of XRP before February 2026.

The move, approved by its board, reflects Gumi’s ties to SBI Holdings, Ripple’s closest Japanese partner and largest shareholder.

Gumi has also been actively buying Bitcoin, including a $6.5 million acquisition earlier this year, and has even launched a BTC lottery for new shareholders.

Mobile game developer Gumi Inc. has announced plans to acquire bitcoin worth 1 billion Japanese yen (approximately $6.58 million).#Gumi #Bitcoinhttps://t.co/O11tfwoUc1

Executives described the XRP purchase not as speculation but as a “strategic initiative” to expand into financial services.

Japan’s corporate push doesn’t end there. Beauty chain Convano has unveiled one of the boldest treasury plans yet, seeking to raise ¥434 billion ($3 billion) to buy 21,000 BTC, equal to 0.1% of Bitcoin’s supply. Its three-phase program targets 2,000 BTC by the end of 2025.

Japanese nail salon Convano announces a $3B Bitcoin acquisition strategy, with a target of 21,000 BTC by 2027.#Bitcoin #Treasuryhttps://t.co/mx9NDkFXYR

Other listed firms are also scaling up their exposure. On August 25, five Japanese companies disclosed new allocations totaling 156.79 BTC.

The standout was Metaplanet, which added 103 BTC for $11.7 million, raising its reserves to 18,991 BTC, worth nearly $2 billion.

The company, now among the world’s top seven corporate Bitcoin holders, recently secured a place in the FTSE Japan Index, boosting investor confidence despite stock volatility.

Meanwhile, Remixpoint Inc. bought 41.5 BTC for $4.6 million, and ANAP Holdings grew its holdings to 1,017 BTC.

5 Japanese firms add BTC to their treasuries, totaling 156.79 BTC despite the dip. @metaplanet_pr leads with 103 BTC, joined by @remixpoint_x and Anap Holdings. #Bitcoin #CorporateTreasuryhttps://t.co/fVe7Y0HDAp

Smaller players like Agile Media Network and Def Consulting are also joining the trend, while Lib Work, a 3D housing firm, has committed $3.3 million to Bitcoin as a hedge against inflation and a foundation for global expansion.

These moves align with Tokyo’s policy stance. Finance Minister Katsunobu Kato, speaking at WebX2025, called crypto “a part of diversified investments” and pledged to build an environment that supports adoption without stifling innovation.

Japan is also preparing to roll out its first yen-denominated stablecoin this autumn, led by fintech firm JPYC.

The token will target international remittances and corporate settlements, potentially tying together the nation’s growing corporate crypto strategies.