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Arthur Hayes Reverses Course With $10.5M Ethereum Buyback

The move highlights growing institutional appetite for ether fueled by record ETF inflows.

Arthur hayes ‘had to buy it all back’ after selling $8.3m worth of eth

Overview

  • On August 9, blockchain data showed Hayes deployed $10.5 million in USDC to repurchase ether at around $4,200, overturning his earlier sell-off.
  • Last week he sold roughly 2,373 ETH for about $8.3 million when prices were near $3,500 and liquidated over $13 million in altcoins including ENA and PEPE.
  • The BitMEX co-founder had warned of headwinds from U.S. tariffs and soft jobs data before posting on X that he “had to buy it all back.”
  • Ether’s price has rebounded to near $4,200 as spot ETH ETFs have drawn more than $5.5 billion in inflows and over 1 million ETH left exchanges in July.
  • Traders view Hayes’s rapid U-turn as emblematic of the market’s sensitivity to macroeconomic signals and the reinforcing effect of institutional ETF adoption.