Transaction Details
Published 7/21/2026, 10:34:59 AM
Arthur Hayes, co-founder of BitMEX, purchased 1,332.5 ETH (valued at approximately $2.53 million) on July 20, 2026, at an average price of ~$1,900 [Source: https://phemex.com/news/article/arthur-hayes-acquires-13325-eth-worth-253-million-93931]. This acquisition is part of a broader re-accumulation strategy following a significant trading loss in June 2026, where he sold 6,000 ETH at a loss of roughly $606,000 [Source: https://finance.yahoo.com/markets/crypto/articles/arthur-hayes-buys-back-ethereum-021915127.html].
Transaction Details
The purchase was executed via over-the-counter (OTC) trades to minimize market impact:
- Galaxy Digital: Hayes received 646.33 ETH (worth ~$1.24M) from Galaxy Digital [Source: https://www.kucoin.com/news/flash/arthur-hayes-receives-646-33-eth-worth-1-24m-from-galaxy-digital].
- FalconX: A separate transfer of $1.25 million USDC was linked to the remaining portion of the 1,332.5 ETH acquisition [Source: https://phemex.com/news/article/arthur-hayes-acquires-13325-eth-worth-253-million-93931].
- Total July Accumulation: Including a prior purchase on July 15, Hayes has accumulated approximately 3,272 ETH (~$6.2 million) within a single week [Source: https://finance.yahoo.com/markets/crypto/articles/arthur-hayes-buys-back-ethereum-021915127.html].
Investment Thesis
Hayes' current bullish stance on Ethereum is driven by a "buy it back" conviction after previously exiting the market at lower levels. His thesis is supported by the following factors:
- Market Re-entry & Conviction: After selling 6,000 ETH in late June at ~$1,690, Hayes publicly signaled a need to "buy it all back," indicating a belief that the local bottom has passed and ETH is poised for a rally [Source: https://finance.yahoo.com/markets/crypto/articles/arthur-hayes-buys-back-ethereum-021915127.html].
- Institutional Alignment: His purchase coincides with significant whale activity, including $57.7 million in ETH withdrawn from Coinbase Prime by new institutional wallets, suggesting Hayes is positioning himself alongside "smart money" accumulation [Source: https://phemex.com/news/article/arthur-hayes-acquires-13325-eth-worth-253-million-93931].
- Technical Recovery: Analysts suggest that reclaiming the $1,950 support range is a critical "bullish catalyst" for a trend reversal toward $2,400, with $2,000 serving as the immediate psychological resistance level.
Summary of Recent Activity
| Metric | Value | Date | Source |
|---|---|---|---|
| Purchase Amount | 1,332.5 ETH | July 20, 2026 | Phemex |
| Average Price | ~$1,900 | July 20, 2026 | Phemex |
| Total Value | ~$2.53 Million | July 20, 2026 | Phemex |
| Prior Sale (Loss) | 6,000 ETH (-$606k) | June 2026 | Yahoo Finance |
| Execution Venue | OTC (Galaxy, FalconX) | July 2026 | KuCoin |
While the transaction details are verified, there is some dispute across sources regarding the exact timing of the Galaxy Digital transfers; some data suggests the 646 ETH transfer occurred as early as July 15, 2026, as part of an earlier accumulation phase [Source: https://finance.yahoo.com/markets/crypto/articles/arthur-hayes-buys-back-ethereum-021915127.html]. Regardless, the overarching trend shows Hayes aggressively rebuilding his ETH position at the $1,900 level.