Arthur Hayes Buys Back Ethereum at Higher Prices, Swears Off Profit-Taking as Institutions Scoop Up $4.17B in ETH
BitMEX co-founder and high-profile crypto investor Arthur Hayes has made headlines once again this time for buying back Ethereum (ETH) at higher prices just a week after pocketing profits from his previous sale. The dramatic move underscores not only the volatile nature of crypto trading but also the relentless demand for ETH from whales and institutional players in 2025.
Arthur Hayes: From Taking Profits to “Pinky Swear” HODL
According to onchain data, Hayes sold 2,373 ETH (valued at $8.32 million) last week when ETH hovered near $3,507, locking in profits as the market prepared for upcoming macroeconomic headwinds. However, the Ethereum price soon rallied past $4,000, setting off FOMO for even the most experienced traders.
In a dramatic reversal over the weekend, Hayes swapped $10.5 million in USDC split across a series of transactions to buy back into ETH at prices above $4,150. This means his “re-entry” came at a premium of roughly 18% compared to his earlier exit. The move was accompanied by one of crypto Twitter’s iconic mea culpas, as Hayes wrote:
“Had to buy it all back, do you forgive me @fundstrat? I pinky swear, I’ll never take profit again.”
Hayes Previously Warned of a Crypto Correction
Hayes, who now serves as Chief Investment Officer of Maelstrom Fund, had recently warned that mounting macro pressures could trigger a downturn in digital assets. Following a disappointing July Non-Farm Payrolls report showing just 73,000 new US jobs Hayes noted that sluggish credit growth and renewed tariff worries could drag Bitcoin back toward $100,000 and ETH to $3,000.
Acting on his own caution, the crypto veteran dumped over $13 million in digital assets last week, including $8.32 million in ETH, $4.62 million in Ethena (ENA), and $414,700 in Pepe (PEPE). However, the rapid surge in Ethereum prices inspired by institutional inflow and whale accumulation prompted Hayes to watch from the sidelines before rebuying at a multi-month high.
Institutional Demand: Over $4 Billion in ETH Accumulated Since July
The Ethereum rally isn’t just retail-driven. Since July 10, more than 1.035 million ETH worth approximately $4.17 billion has been quietly accumulated by a cluster of large, unknown holders and institutional traders. Data from EmberCN suggests these purchases occurred via major exchanges and institutional trading desks, with the average acquisition price estimated at $3,546.
Who’s buying? While some addresses are public (such as those belonging to SBET), analysts believe the majority belong to institutions and public companies rapidly building strategic ETH reserves. This burst of buying coincided with ETH’s 45% surge, running from $2,600 to $4,000 in just a month.
Key Takeaways for Ethereum Traders and Investors
- Hayes’s buyback at higher prices reflects the challenge common even for seasoned traders of perfectly timing the crypto market.
- ETH’s institutional accumulation is reaching record levels, as whales and public companies prioritize ETH as a treasury asset.
- Market sentiment is increasingly bullish, with both onchain data and headline-making trades fueling confidence in Ethereum’s short- and long-term trajectory.
- Price volatility remains high, and the temptation to take profits can be quickly overshadowed by FOMO-driven rebounds.
Arthur Hayes’s “pinky swear” to never take profit again may be tongue-in-cheek, but the broader message is clear: with both individuals and institutions vying for ETH amid a supply squeeze, market conviction and volatility are reaching new highs for Ethereum in 2025.
