Yunfeng Financial Surges as Jack Ma-Backed Firm Invests $44M in Ethereum

Shares of Yunfeng Financial Group (HK:0376), backed by Jack Ma’s Yunfeng Capital, climbed to a seven-week high on Monday after the company revealed a major investment in Ethereum. The Hong Kong-listed financial firm announced last week that it purchased 10,000 ETH, valued at around $44 million, using internal cash resources.

This move marks Yunfeng’s first significant step into digital assets as Hong Kong positions itself as a global hub for virtual assets and Web3 innovation. According to its exchange filing, the company will treat the Ethereum holdings as a long-term investment, highlighting its commitment to blockchain adoption and emerging technologies.

The firm said the investment will support its expansion into Web3 initiatives, including the tokenisation of real-world assets and potential blockchain applications in its insurance business. By integrating Ethereum into its strategy, Yunfeng aims to diversify beyond traditional finance and embrace opportunities in artificial intelligence and decentralised technologies.

Following the announcement, Yunfeng Financial’s stock price gained 3.1% on Monday to HK$4.04 as of 04:30 GMT, its highest since July 22. The stock had already surged over 20% last week, marking four consecutive weeks of strong gains.

Yunfeng Capital, co-founded by Alibaba’s founder Jack Ma, has been expanding its footprint into fintech and digital transformation. This latest Ethereum purchase underscores growing institutional interest in cryptocurrencies and blockchain solutions, especially as Hong Kong accelerates its push to build a regulated, innovation-driven virtual asset sector.

At a time when global markets remain uncertain, Yunfeng’s bold move into Ethereum signals confidence in the long-term value of digital assets. Investors and industry watchers will now be closely monitoring how the company leverages its crypto holdings to enhance its business model and capture growth in the Web3 era.