Hayes Accumulates $2.63M in Ethereum After Altcoin Exit

Arthur Hayes, co-founder of BitMEX and CIO of Maelstrom, has added approximately $2.63 million in Ethereum exposure to his portfolio. According to Onchain Lens, a blockchain address attributed to Hayes received 1,500 ETH from Cumberland's institutional trading operation at an implied value near $1,750 per coin.

This move follows a sharp reduction in Hayes' higher-risk altcoin positions. He had previously sold his entire holdings of HYPE and NEAR, citing higher energy prices, heavy capital demand from major artificial intelligence listings, and the risk of a broader market peak before September. The sale also ended one of his most visible recent trades.

The latest transfers suggest that part of the released capital may now be concentrating in ETH rather than returning immediately to smaller tokens. Cumberland and Flowdesk provide institutional liquidity and over-the-counter execution for large crypto trades, which can reduce market impact when placing a similarly sized order directly into a public exchange order book.