TL;DR
- Arthur Hayes has snapped up over $16M in altcoins, including Ethereum, Hyperliquid, Lido DAO, Ethena, Pendle, and EtherFi, in just five days, skipping Bitcoin entirely.
- The spree aligns with surging altcoin momentum, as ETH gains nearly 50% in a month, HYPE nears $50, and ENA posts triple-digit 30-day growth, reversing Hayes’ earlier August profit-taking.
- Despite the altcoin focus, Arthur Hayes stays ultra-bullish on Bitcoin, projecting $250K under extreme liquidity conditions and $1M per BTC by 2028, reinforcing his role as a market sentiment driver.
Arthur Hayes is focusing on the altcoin recovery, acquiring more than $16 million in tokens over five days, while excluding Bitcoin. The BitMEX cofounder and Maelstrom CIO made significant purchases in Hyperliquid, Lido DAO, Ethena, and Ethereum, as reported by Lookonchain. The spree comes as those names post sharp monthly gains and stoke debate over how far this rotation into higher beta assets can run.
Arthur Hayes(@CryptoHayes) bought more $HYPE, $LDO, and $ENA today.
Over the past 5 days, Arthur Hayes has purchased a total of 1,750 $ETH($7.43M), 58,631 $HYPE($2.62M), 3.1M $ENA($2.48M), 1.29M $LDO($1.83M), 184,610 $PENDLE($1.02M), and 420,000 $ETHFI($516.6K).… pic.twitter.com/dyy6nDxTer
— Lookonchain (@lookonchain) August 15, 2025
What he bought
Today’s tranche added more Hyperliquid, Lido DAO, and Ethena. In five days, Hayes purchased 1,750 ETH (more than $8 million), 58,631 HYPE (about $2.8 million), 3.1 million ENA (around $2.3 million), and 1.29 million LDO (approximately $1.8 million). He also picked up 184,610 PENDLE (about $1 million) and 420,000 ETHFI ($504,000). The mix tilts to liquidity hubs and yield plays that have led recent altcoin flows.
Timing and backdrop
The purchases track a burst in momentum. ETH has climbed almost 50% over the past month, HYPE is edging toward a $50 all-time high, and ENA has risen by triple digits in 30 days. Notably, Arthur Hayes trimmed risk at the start of August, selling portions of ETH, ENA, and PEPE for millions of dollars. Days later, he reversed course, reaccumulated the ETH, and joked that he would never take profit again.
Bitcoin view remains intact
Even with new investments in altcoins, Arthur Hayes maintains a strong bullish outlook for Bitcoin. He believes that significant fiscal policies and future money printing could greatly boost BTC adoption, and in March and April, he encouraged investors to prepare for that scenario. His targets remain outsized. He has floated $250,000 in the near term under an extreme liquidity scenario and $1 million per coin by 2028.
Why it matters
ArthurHayes is still a key indicator of crypto risk appetite, and his purchases frequently spark discussions in trading circles. With Lookonchain surfacing the activity and prices already moving, the question is whether follow-on demand meets his conviction or fades into profit-taking. The bet is clear. Rotation is back, and Arthur Hayes is front-running it.
