Arthur Hayes sells more ETH and invests in DeFi tokens

BitMEX co-founder Arthur Hayes sold 682 Ethereum worth roughly $2 million on Tuesday, according to data tracked by Lookonchain.

Arthur Hayes(@CryptoHayes) has just deposited another 682 $ETH($2M) into #Binance to sell and rotate into high-quality DeFi tokens.

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

— Lookonchain (@lookonchain) December 24, 2025

Hayes also increased exposure to decentralized finance tokens, buying Ethena (ENA), Pendle (PENDLE), and Ether.fi (ETHFI), with total purchases valued at about $609,000.

The latest trades build on activity from last weekend, when Hayes exchanged 680 ETH for 1.2 million ENA tokens. Hayes has said he is reducing Ethereum exposure in favor of select DeFi assets that he believes could benefit more directly from improved liquidity conditions.

The analyst had accumulated ENA earlier in 2025 before selling a portion of his holdings during periods of market weakness, resulting in realized losses on those positions.