Remember the story about the mysterious Hong Kong investor who invested $436 million in BlackRock's Bitcoin ETF? Here, Laurore Ltd. finally broke its silence after a week of crazy speculation in the crypto community.

It all started simply. An obscure firm disclosed a position of about $436 million in the iShares Bitcoin Trust (IBIT). This was its first and only filing, and the address was listed in Hong Kong. The crypto community immediately started digging. SEC documents listed a certain Zhang Hui as director — a name that in China is as common as John Smith in the West. CoinDesk even found over a hundred people with that name in the Hong Kong registry.

For about two weeks, people wondered: is this capital outflow from mainland China? Some secret fund? Family office? The company's silence only fueled interest. When CoinDesk journalists visited the Hong Kong address, it turned out that a completely different company was registered there — Avecamour Advice Ltd. Laurore itself is not registered in Hong Kong at all.

After numerous attempts to get a comment, Laurore finally responded. A representative stated that the owner prefers to remain silent and keep a low profile. The entire position in IBIT is just a personal investment conviction; no further details will be provided. Silence, and that's it.

Documents showed that Avecamour Advice is fully owned by Avecamour Ltd., registered in the British Virgin Islands. Zhang Hui, with a mainland Chinese passport, is the sole director of Avecamour Advice, which was registered in March 2025. Almost nothing is known about Avecamour itself or its beneficiaries.

Laurore's representative confirmed that the owner of Laurore is also a director of Avecamour, but remains silent about the person's identity. Major investors often hold positions through several legal entities — for structuring, custody, or confidentiality reasons. Form 13F requires disclosure of managers but not ultimate beneficiaries.

What could this mean? If we talk about capital outflows, it involves moving funds from mainland China into offshore assets via Hong Kong — for example, into US-listed Bitcoin ETFs, potentially to diversify wealth outside currency restrictions. But it could also simply be a cluster of funds or a family office within a Hong Kong structure investing in BTC ETFs. If so, the logic is clear: Bitcoin ETFs on HKEX have low liquidity and high fees, while IBIT on the US exchange offers significantly better conditions for institutional investors.

But at this point, Laurore's and its leader's identities remain as obscure as Satoshi Nakamoto's for Bitcoin. Silence persists, and there are still more questions than answers.