Arthur Hayes Buys $6.39M Ethereum Hours Before ETH Drops to $1,872

Arthur Hayes bought 3,298 Ether (ETH) worth $6.39 million hours before Ethereum's spot price slid from $1,960 to $1,872. The purchase extends a buying streak that began July 15, bringing Hayes' total ETH holdings to 7,213 tokens acquired for $13.87 million at an average price of $1,923. The accumulation leaves the Bitmex co-founder roughly $368,000 underwater as Ether dropped alongside broader crypto markets during the Federal Reserve's two-day policy meeting.

Hayes Assembles Position Through OTC Trades Since July 15

Hayes assembled the position through a string of over-the-counter trades. Onchain trackers flagged transfers to Galaxy Digital, FalconX, and Cumberland since mid-July. Single purchases ranged from roughly 645 ETH to about 1,330 ETH.

The accumulation followed a reversal. Hayes closed his ETH position in late June at a loss of about $606,000. He then started rebuying on July 15, as Ether recovered above $1,750.

Hayes' rebuilding lines up with a broader institutional case for Ether. Fundstrat's Tom Lee has made a similar argument, saying institutions are moving past simply trading Ethereum toward building on it. His Ethereum bull case points to BlackRock's tokenized fund and Robinhood's ETH-based fee token.

Ethereum Drops From $1,960 to $1,872 During Market Pullback

Ether's drop came as broader crypto markets pulled back Tuesday. The Federal Reserve's two-day policy meeting concludes this week, and traders are watching for signals on interest rates.

Hayes Closed Previous ETH Position at $606,000 Loss in June

The Bitmex co-founder built his reputation on bold trades. He often exits a position just as fast as he enters it.

Hayes has talked up tokens like Hyperliquid's HYPE, Zcash, and Worldcoin in the past. He then quietly closed those positions once sentiment turned.

Hayes and his Bitmex co-founders pleaded guilty in 2022 to Bank Secrecy Act violations tied to the exchange's anti-money-laundering failures. President Trump pardoned all three in March 2025, wiping out the convictions.

FAQ

How much Ethereum did Arthur Hayes buy since July 15? Arthur Hayes bought 7,213 ETH for $13.87 million at an average price of $1,923 since July 15. His most recent purchase was 3,298 ETH worth $6.39 million.

What happened to Ethereum's price after Hayes' latest purchase? Ethereum's spot price slid from $1,960 to $1,872 hours after Hayes bought 3,298 ETH worth $6.39 million. The drop came as broader crypto markets pulled back during the Federal Reserve's two-day policy meeting.

When did President Trump pardon Arthur Hayes? President Trump pardoned Arthur Hayes and his Bitmex co-founders in March 2025, wiping out their 2022 convictions for Bank Secrecy Act violations tied to anti-money-laundering failures.