Hong Kong-listed Yunfeng Financial Group has acquired 10,000 Ethereum tokens valued at $44 million as part of its strategic expansion into digital asset markets. The Jack Ma-backed financial services company funded the purchase entirely through existing cash resources without external financing.
Yunfeng confirmed that Ethereum will function as a strategic reserve asset supporting the company’s transition into Web3 technologies and artificial intelligence applications. The acquisition aligns with the firm’s diversification strategy beyond traditional brokerage, asset management, and insurance services into decentralized finance opportunities.
The financial group plans to integrate Ethereum holdings into its official investment portfolio reporting structure. Company executives indicated that ETH will support upcoming tokenization projects while serving as infrastructure for new Web3 financial solutions across their service offerings.
Jack Ma maintains an 11.15% stake in Yunfeng Financial through Yunfeng Capital, according to public filings. While the Alibaba founder does not participate in daily operations, his ownership connection enhances the company’s profile as it pivots toward blockchain technology adoption.
The Yunfeng purchase forms part of a larger institutional accumulation trend affecting Ethereum markets. Blockchain analytics firm Lookonchain reported that institutional buyers and whale investors acquired 218,750 ETH worth approximately $943 million during a two-day period.
BitMine Immersion Technologies led corporate purchasing activity, securing 69,603 ETH valued at $300 million through transactions with BitGo and Galaxy Digital. Additionally, five newly created wallets accumulated 102,455 ETH through FalconX trading platform, representing $441.6 million in institutional demand.
This institutional buying pressure occurs amid declining Ethereum availability on centralized exchanges. CryptoQuant data shows exchange reserves have decreased by 10.7 million ETH since September 2022, falling from a peak of 28.8 million tokens to current levels of 17.4 million.
The past three months alone witnessed withdrawals of approximately 2.5 million ETH from exchange platforms. Corporate treasuries and exchange-traded funds absorbed most of these tokens, creating supply constraints that have supported price appreciation.
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