Arthur Hayes Buys 1,337 ETH Days After Selling Ethereum at a Loss

Former BitMEX chief Arthur Hayes has bought back into Ethereum just two days after selling a large ETH position at a loss, according to on-chain tracking data. Hayes sent 2.5 million USDC to Galaxy Digital and received 1,337 ETH in return, buying at an average price of roughly $1,869 per coin.

Pattern of Reversals Draws Renewed Attention

The purchase continues a familiar cycle for Hayes, who has repeatedly built and unwound crypto positions within short windows this year. Just days earlier, he deposited over 2,300 ETH into Cumberland and Galaxy Digital, selling near $1,821 and locking in a loss after having accumulated the position at a higher average price near $1,916.

Wider Trading History Shows Repeated Swings

The BitMEX co-founder sold 6,000 ETH at an estimated $606,000 loss in June, only to reaccumulate thousands of ETH through OTC trades with Galaxy Digital and FalconX in the following weeks. He has also exited positions in tokens including SYN, ZEC, NEAR and HYPE, citing shifting risk conditions.

Market Context Behind the Trade

The renewed buying comes as Ethereum trades near multi-month lows amid broader weakness across digital assets, with Bitcoin also pulling back in recent sessions.