Arthur Hayes, co-founder of BitMEX, has resumed building his Ethereum position, according to recent onchain data. After selling down his holdings in June, wallet records show that Hayes began accumulating ETH again in July, signaling renewed appetite among high-profile investors.
Hayes’ return to ETH after June sell-off
Lookonchain, a blockchain data analytics platform, reported that on July 15, Hayes acquired 1,293 ETH after receiving 646 ETH from Galaxy Digital, a prominent crypto investment firm. Further acquisitions over the next two days brought his cumulative July purchases to over 1,900 ETH, estimated at $3.7 million in total value.
This buying spree followed Hayes’ decision to sell 6,000 ETH in June, a transaction that reportedly resulted in a loss exceeding $600,000. Market observers often watch Hayes’ wallet activity closely as a gauge of prevailing sentiment, given his high profile in the cryptocurrency sector.
Hayes’ activity reflects a broader increase in institutional and whale interest as Ethereum trades near $1,935. The renewed accumulation is seen alongside sustained flows from large investors and institutions.
On July 21, Ethereum traded at approximately $1,906, as trackers highlighted not only Hayes’ renewed exposure but the parallel movement among other large holders.
Whale wallets and staking flows intensify
Recent wallet activity points to broader accumulation of Ethereum by so-called whales. One dormant address, identified as 0x4cee, bought 10,501 ETH with 20 million USDC after a three-month pause, paying around $1,905 per coin.
At the same time, a newly created wallet, 0xf23c, withdrew 12,800 ETH from Binance and promptly staked these funds to the Ethereum network. Such activity aligns with a growing trend toward staking, which leaves a smaller liquid supply in circulation and may tighten price dynamics in the longer term.
Mini dictionary: BitMEX — BitMEX is a cryptocurrency exchange specializing in derivatives, co-founded by Arthur Hayes and based in Seychelles. The platform is known for offering leveraged trading products.
Reports indicate the staking share of Ethereum has now reached 33% of the total ETH supply, according to ethereum.org. Increased staking can remove a significant number of tokens from active trading, serving as a potential bullish signal for holders seeking long-term upside.
Added institutional momentum comes from BlackRock’s iShares Staked Ethereum Trust ETF (ETHB), which was launched on Nasdaq on March 12, 2026. BlackRock, a leading global asset manager, set up the fund to offer ETH exposure and yield from staking rewards in a regulated brokerage format.
| Wallet/Entity | ETH Acquired | Funding Source | Notable Action |
|---|---|---|---|
| Arthur Hayes | 1,900+ | Galaxy Digital | Accumulated post-June sell |
| 0x4cee | 10,501 | USDC (20M) | Bought after inactivity |
| 0xf23c | 12,800 | Binance withdrawal | Staked all ETH |
According to BlackRock’s latest fact sheet, ETHB is designed to track both ether’s price action and the rewards earned from staking, offering institutional investors a new channel for ETH exposure.
With these developments, Ethereum remains a focal point for both crypto-native investors and traditional finance institutions.
ETH price holds near key support
Ethereum’s market price supported the flurry of onchain accumulation. Between July 20 and July 21, ETH climbed from $1,905.20 to $1,934.89, marking incremental gains at a time when large wallets were moving in. CoinGecko data reflected strong price action, with the coin dipping to the mid-$1,800s before rebounding back near $1,900, matching increased buying and staking activity.
Despite the latest recovery, ETH remains well below its peak from August 2025. The most recent price was recorded at $4,886.03, suggesting the cryptocurrency is still working through a broader recovery phase.
The ongoing demand from influential market participants and the launch of new institutional products appear to be shaping Ethereum’s current price landscape.
