BitMEX Co-Founder Arthur Hayes Amasses $5 Million Worth of Ethereum

Arthur Hayes, co-founder of BitMEX and now CIO at Maelstrom Fund, has been quietly accumulating Ethereum (ETH) over the past few days. According to on-chain data, Hayes' wallet added 1,400 ETH worth approximately $2.51 million on June 17 and another 1,500 ETH valued at around $2.63 million on June 18.

These transactions total roughly 2,900 ETH (over $5 million) in just two days, bringing Hayes' total Ethereum purchases to over $5 million. The moves suggest a significant re-entry into Ethereum by the former BitMEX executive and mark a distinct shift in focus back to ETH after he previously promoted various altcoins.

Hayes has been vocal about markets and has a large following on social media, but he has made no public comment on the purpose of these transactions. Analysts note that moving ETH out of exchanges often corresponds to a self-custody or staking strategy, although Hayes' motive remains unclear.