Li Lin's family office in Hong Kong, Avenir Group, holds a huge amount of IBIT (reaching $1.189 billion in Q3 2025). This may be due to the high concentration of leverage, the short squeeze on the Japanese yen/precious metals, and the gamma manipulation of options, which led to the flash crash of BTC on February 5. However, there is currently no public evidence or 13F filing showing that he significantly reduced his holdings during the flash crash. This can only be confirmed by the Q1 13F filing in mid-May 2026. If the holdings suddenly drop to near zero, it is almost certain that this was caused by him.