Arthur Hayes has bought another $6.39 million in ether, lifting his July purchases to 7,213 ETH even though the position sits roughly $301,000 underwater. The Maelstrom chief investment officer is buying an asset he sold in June at an estimated $606,000 loss.
Hayes bought 3,298 ETH for $6.39 million, pushing his July accumulation to 7,213 ETH while the position stays roughly $301,000 underwater. The BitMEX co-founder is adding to ether he was selling at a loss in June.
Lookonchain traces a third July buy
Lookonchain flagged the latest purchase within hours of execution, tracing it to a wallet linked to Hayes, who now serves as chief investment officer of the family office Maelstrom. The accrual brings his total since July 15 to 7,213 ETH worth $13.87 million at an average entry of $1,923.
Wallet-tracking carries the story because Maelstrom discloses little about its formal positioning, which makes services like Lookonchain the primary window into his activity. This buy is his third documented ETH purchase of the month, following a 646 ETH acquisition through an over-the-counter trade with Galaxy Digital and a 1,293 ETH buy.
From a $606,000 loss back to buying
The spree marks an abrupt reversal from June, when a wallet tied to Hayes sold 6,000 ETH for roughly $10.14 million at an average price near $1,690. That sale locked in an estimated $606,000 loss on ETH he had accumulated weeks earlier at an average entry near $1,793, breaking from his usual pattern of buying weakness and selling strength.
He has whipsawed between selling and buying before. In August 2025, a wallet linked to him sold $13.35 million in crypto, including 2,373 ETH, citing concerns over a looming U.S. tariff bill, even as he maintained that bitcoin would eventually test $100,000 and ether would test $3,000. In an April note, Hayes argued that wartime-driven inflation, a regulatory change freeing up bank balance sheets, and coordination between the Treasury and the Federal Reserve would push total credit creation past $4 trillion, concluding: "That's why I believe bitcoin is going higher."
Ether ETF inflows triple bitcoin's
Ether changed hands near $1,900 on July 28, up roughly 20% for the month, though the token remains down about 49% from a year earlier. Ether exchange-traded funds pulled in $103.90 million during the week of July 20-24, roughly three times the $33.79 million bitcoin funds attracted over the same stretch, according to Bitcoin.com News.
That inflow gap suggests institutional allocators are rotating toward ether even as individual traders like Hayes navigate the asset with far more volatility in their own positioning.
Source: Bitcoin News
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