Jack Ma's Yunfeng Financial Acquires $44M in Ethereum as Part of Web3 Expansion

Hong Kong-listed Yunfeng Financial Group, which has ties with Alibaba founder Jack Ma, has made a decisive move towards Web3 after purchasing 10,000 ETH, which has a value of approximately $44 million.

The purchase was disclosed in a voluntary announcement on Tuesday, was funded through internal reserves, positioning Ethereum as a key reserve asset to underpin Yunfeng's technological innovation and expansion into frontier finance areas.

According to the company, including ETH in its strategic reserve aligns with its broader ambition to facilitate tokenization of real-world assets and build infrastructure supportive of Web3 developments.

Yunfeng Financial will classify these ETH holdings as investment assets on its balance sheet, underscoring their significance beyond mere speculative exposure.

The company also highlighted plans to explore Ethereum’s applicability within its insurance operations and other decentralized finance (DeFi) business models.

Yunfeng Financial—majority owned by Yunfeng Capital, a Shanghai-based private equity firm co-founded by Jack Ma—is primarily a financial technology provider offering brokerage, asset management, insurance, and financing services.

This bold Ethereum acquisition follows similar moves by regional players such as SharpLink Gaming and Bitmine Immersion Technologies that have recently embraced ether treasury strategies akin to the playbook popularized by Michael Saylor’s Bitcoin Treasury approach.

The announcement was welcomed by investors, with Yunfeng’s Hong Kong-listed shares climbing nearly 10% to close at 3.67 HKD (approximately 47 US cents) on Tuesday.

Yunfeng’s $44 million purchase of ETH signals a clear pivot toward embracing blockchain’s transformative potential within institutional finance.

Here at coinlive, we believe the firm’s strategy highlights Ethereum’s growing role as a foundational asset for real-world asset tokenization and decentralized applications, particularly in Asia’s rapidly maturing crypto ecosystem.

As regulatory clarity improves and staking yields remain attractive, ETH is poised to become a cornerstone of digital corporate treasuries and innovative financial products in the near future.