On the 2nd, Yunfeng Financial (0376.HK), in which Jack Ma holds shares indirectly, announced that it has accumulated the purchase of 10,000 Ether (ETH), with a total investment cost of $44 million. This move not only triggered a nearly 10% increase in stock price during the day but is also seen as the latest layout of Alibaba founder Jack Ma in the Web3 field. Unlike previous low-key approaches, Yunfeng Financial's announcement directly points to the strategic significance of ETH as a reserve asset, aiming to optimize asset structure and reduce reliance on traditional currencies. As a financial group indirectly held by Jack Ma, this action quickly sparked a chain reaction in the global crypto community and traditional finance circles, highlighting institutional investors' accelerated embrace of digital assets.

The group clearly stated in the announcement that the funds for this purchase come from internal cash reserves, and the acquired ETH will be classified as investment assets. The company's board believes that incorporating ETH into strategic reserves aligns with the group's layout in cutting-edge fields such as Web3 and the tokenization of real-world assets (RWA). This is not an isolated event: since August, Yunfeng Financial has been active, including releasing mid-term performance, obtaining Web3-related licenses, advancing carbon infrastructure and RWA projects, and strategic cooperation with public chains. As September progressed, the pace of announcements further accelerated, culminating in this ETH purchase, demonstrating the group's determination to transition to crypto finance.

According to public data, Jack Ma indirectly holds about 11.15% of Yunfeng Financial through Yunfeng Fund. In the Shanghai Yunfeng New Venture Capital Center, Jack Ma holds 40%, and although he has no voting rights, his influence cannot be ignored. Yunfeng Fund was founded by Jack Ma and Yu Feng in 2010, focusing mainly on technology, finance, and consumer sectors. The predecessor of Yunfeng Financial can be traced back to Wansheng International Securities, established in 1982, which was taken over by Yunfeng Fund with an investment of HK$3.9 billion in 2015, transforming into a fintech platform with multiple licenses including securities, insurance, and asset management. This ETH purchase is interpreted as Jack Ma's extension from the Alipay era into the blockchain field. Earlier, at an entrepreneur forum in February 2025, Jack Ma proposed the concept of "technology packaging," which involves embedding algorithms into real-world scenarios, with Ethereum as the core of smart contracts, serving as the financial infrastructure for this idea.

After the announcement, Yunfeng Financial's stock price saw an intraday increase of nearly 10%. In the crypto community, this news was humorously referred to as "Jack Ma Joining the E-Guard," and the announcement mentioned that the company would explore the application of ETH in insurance business and innovative scenarios suitable for Web3. In addition to ETH, the company plans to include mainstream digital assets such as Bitcoin (BTC) and Solana (SOL). This aligns with the global trend of institutional entry: for example, BlackRock's ETHA ETF raised $1 billion in a single day, and Standard Chartered predicts that ETH will reach $7,500 by the end of the year. The RWA sector is seen as a trillion-dollar opportunity, and Yunfeng Financial emphasizes that ETH can provide infrastructure support for RWA tokenization. RWA refers to the on-chain tokenization of real assets such as real estate and bonds, enhancing liquidity and efficiency. Jack Ma's layout is viewed as a forward-looking move to seize this sector, especially against the backdrop of the upcoming ETH Pectra upgrade, which is expected to ignite a wave of institutional staking.

Coincidentally, the Ethereum Foundation disclosed the day after the announcement that it would sell 10,000 ETH for research and donations. This transaction was completed in the early hours of September 3, valued at approximately $42.7 million, and the foundation's official Twitter account immediately clarified the purpose. Currently, the foundation still holds 231,600 ETH, ranking fourth among public entities. From a professional perspective, Yunfeng Financial's actions optimize its balance sheet. Traditional finance relies on fiat currencies like the US dollar, which are susceptible to inflation and geopolitical risks; ETH, as "digital oil," offers 3-5% staking returns, outperforming US Treasury bonds. The group holds Wanto Insurance, and this move may explore the application of ETH in insurance, such as automating claims through smart contracts to enhance efficiency. More broadly, this event marks the acceleration of the decentralized era of blockchain. Yunfeng Financial firmly believes that the Web3 revolution will drive financial innovation and sustainable development.

This article is for informational sharing only and does not constitute any investment advice to anyone.

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