#ETHTreasuryStrategy $ETH Here’s a polished article on Arthur Hayes’s bold ETH-selling gambit—and his unexpected reversal:



Arthur Hayes ‘Had to Buy It All Back’ After Selling $8.3 M in ETH


Published: August 9, 2025

Source: CoinDesk, reported by Francisco Rodrigues


What Happened?




  • The Sell-Off:

    Last week, Arthur Hayes—the co-founder of BitMEX—sold approximately 2,373 ETH, worth around $8.32 million, when the cryptocurrency was trading near $3,500. He moved the proceeds into stablecoins, expressing concerns over rising market headwinds. He cited factors like potential U.S. tariffs and weak employment data, predicting that Ethereum could fall back toward $3,000 and Bitcoin might test $100,000 .



  • Swift Reversal:

    Just days later, as Ethereum’s price surged to roughly $4,200, Hayes apparently did a 180—he bought back ETH, deploying about $10.5 million in USDC to reload his ETH position .


What’s the Takeaway?




  • Market Swing Moves, Even for Big Players:

    Hayes’s about-face highlights the frenetic pace and volatility of crypto markets—selling on caution only to reverse course when momentum shifts.



  • Signaling Optimism?:

    The quick buyback suggests Hayes might now view Ethereum’s recent strength as more sustainable, despite his earlier bearish stance. His comment on X (“had to buy it all back”) underscores this shift .




Coin World (via Ainvest.com) reports slightly different details:



  • Hayes reversed his ETH position following a 20% price rally, buying back all the ETH he had sold (along with several altcoins), including 1,250 ETH and a number of tokens like LDO, ETHFI, and PENDLE. This repurchase used around $6.85 million in USDC, and took place in under two hours .


These variations—$10.5M vs. $6.85M, and 1,250 ETH vs. 2,373 ETH—likely stem from differing on-chain data interpretations or reporting focuses. Overall, both stories reflect the same dramatic reversal.



Bottom Line


Arthur Hayes’s moves encapsulate the volatility of crypto—and the need for agility. His rapid flip from selling to buying ETH underscores how quickly sentiment can shift, even for seasoned crypto insiders. Whether this signals a broader bullish turn or just strategic repositioning remains to be seen.


Let me know if you’d like comparisons with other whale moves, deeper analysis on his altcoin trades, or a breakdown of how on-chain trackers like Arkham Intelligence and Lookonchain monitor such activity.