beincrypto.com
Arthur Hayes, co-founder of BitMEX, continued to withdraw $ETH from his wallet and transfer it to exchanges in December. These actions have led investors to believe he is selling $ETH. The move may be part of a portfolio rebalancing plan he previously shared.
This activity comes as his portfolio shows notable changes. It now holds more stablecoins and significantly less $ETH.
Arthur Hayes May Have Sold More Than 1,800 $ETH in the Past Week
A recent report from Lookonchain, an account that tracks notable on-chain activity, revealed that Hayes sold an additional 682 $ETH on Binance. The transaction was valued at approximately $2 million. He redirected the capital into DeFi tokens.
Arthur Hayes(@CryptoHayes) has just deposited another 682 $ETH($2M) into #Binance to sell and rotate into high-quality DeFi tokens.
— Lookonchain (@lookonchain) December 24, 2025
In the past week, he has sold a total of 1,871 $ETH($5.53M), and bought 1.22M $ENA($257.5K), 137,117 $PENDLE($259K), and 132,730 $ETHFI($93K).… pic.twitter.com/2mddOY3H1t
Earlier, BeInCrypto reported that Hayes transferred 508.6 $ETH, valued at around $1.5 million, to Galaxy Digital.
In total, Hayes sold approximately 1,871 $ETH over the past week. The estimated value of these transactions reached $5.53 million. He used the proceeds to purchase DeFi tokens, including $ENA, $PENDLE, and $ETHFI.
Data shows that these tokens have declined by 80–90% so far this year. Hayes appears to be taking advantage of low prices. He expects these tokens to deliver future returns. Previously, Hayes publicly shared his strategy on his personal X account.
“We are rotating out of $ETH and into high-quality DeFi names, which we believe can outperform as fiat liquidity improves,” he said.
However, a closer examination of his portfolio structure using Arkham data reveals a significant shift.
First, the amount of $ETH held in his wallet has steadily declined from 16,000 $ETH in 2022. Since November, his $ETH holdings have fallen from 6,500 $ETH to 3,160 $ETH. This indicates sales of more than 3,440 $ETH during that period.
Meanwhile, out of a total portfolio valued at $74 million, nearly $48 million is held in $USDC. Stablecoins now account for more than 60% of the portfolio’s total value.
Arkham data shows that Hayes increased his $USDC holdings from $1 million to nearly $48 million since mid-November. This period also coincided with market sentiment remaining in fear to extreme fear territory.
Typically, rising stablecoin holdings signal either readiness to buy dips or a cautious stance.
Previously, Arthur Hayes predicted that Ethereum could reach $20,000. He stated that holding 50 $ETH could make someone a millionaire by the next US presidential election.
The post Arthur Hayes Sells Over 1,800 $ETH as Portfolio Shifts Toward Stablecoins appeared first on BeInCrypto.