Arthur Hayes, co-founder of BitMEX, has made a notable shift in his crypto portfolio, lowering his publicity to Ethereum whereas growing allocations to DeFi tokens.
Blockchain analytics agency Lookonchain reviews that Hayes bought 1,871 ETH, value roughly $5.53 million, over the previous two weeks. The gross sales considerably trimmed his Ethereum place amid continued value weak point within the asset.
Capital Redirected Into DeFi Initiatives
Following the Ethereum sale, Hayes shortly reallocated funds into a number of tasks throughout the DeFi house.
On-chain knowledge reveals that he acquired 961,113 PENDLE tokens valued at roughly $1.75 million. Moreover, he bought 2.3 million LDO tokens for $1.29 million and added 6.05 million ENA tokens for practically $1.24 million. He additionally gathered 491,401 ETHFI tokens, value an estimated $343,000.
Furthermore, Hayes withdrew $2.52 million from centralized exchanges and redirected the funds into DeFi-related belongings. Because of this, DeFi tokens and stablecoins now make up greater than 60% of his whole crypto portfolio.
In the meantime, his Ethereum allocation has declined significantly. On the time of publication, Hayes holds 3,160 ETH, valued at roughly $9.4 million.
PENDLE Emerges as a Core Holding
Amongst his DeFi positions, PENDLE has change into the dominant holding, accounting for 48.9% of his DeFi publicity. This, in flip, suggests a notably sturdy conviction relative to his different investments within the sector.
The portfolio reshuffle aligns with Hayes’ broader technique of accumulating belongings he believes are undervalued. Most of the DeFi tokens he has acquired have just lately undergone extended value declines.
Regardless of this, Hayes stays optimistic, citing expectations that bettering fiat liquidity circumstances might present a tailwind for DeFi markets.
We’re rotating out of $ETH and into high-quality DeFi names, which we imagine can outperform as fiat liquidity improves.
— Arthur Hayes (@CryptoHayes) December 20, 2025
Ethereum Gross sales Stir Market Dialogue
On the similar time, Hayes’ Ethereum gross sales have fueled debate round broader market sentiment. ETH has struggled to reclaim the $3,000 stage, and large-scale sell-offs have added to investor warning.
Nevertheless, this shift isn’t unprecedented. For example, every week earlier, Hayes transferred 682 ETH ($2 million) to Binance, a transfer that additionally preceded additional DeFi investments.
Taken collectively, these actions level to a transparent strategic desire for DeFi tokens over large-cap layer-one belongings.
DisClamier: This content material is informational and shouldn’t be thought-about monetary recommendation. The views expressed on this article could embrace the writer’s private opinions and don’t replicate The Crypto Fundamental opinion. Readers are inspired to do thorough analysis earlier than making any funding selections. The Crypto Fundamental isn’t liable for any monetary losses.
