BitMEX Founder Transfers Millions in ETHFI, Market Reacts

• 19 September 2025
• |
• 21:40

The crypto community is buzzing after on-chain trackers revealed that Arthur Hayes, the outspoken BitMEX founder, shifted a hefty amount of ETHFI tokens this week.

The transfers, valued at several million dollars, have raised concerns that over-the-counter (OTC

Market Watching Hayes’ Next Move

Hayes has long been a market-moving figure, and traders often pay attention to his portfolio shifts as signals.

This time, Arkham data pointed to two notable transactions: one involving a swap with Galaxy Digital, netting him hundreds of thousands of USDC, and another sending more than a million ETHFI to an address believed to be linked with market-making firm Flowdesk. Combined, the moves represented well over $1.8 million worth of tokens.

Why OTC Deals Matter

Large transfers routed through OTC desks are a common tactic among whales to avoid spooking order books on public exchanges. But when the sums are this significant, investors still take notice. Analysts note that for a relatively new token like ETHFI, Liquidity

Whether Hayes is trimming his position, reallocating, or simply facilitating a deal remains unclear. Still, the visibility of his trades has stirred debate across trading circles, with some speculating this could hint at a cautious stance toward ETHFI in the short run.

Bigger Picture for ETHFI Investors

Experts caution that consistent OTC selling from influential holders could dampen confidence and slow momentum for newer projects. While ETHFI has attracted attention as a fresh entrant in the market, moves like Hayes’ highlight how quickly sentiment can shift when large players act.

For now, the spotlight remains fixed on Hayes — and on whether his transfers signal a broader trend or just a one-off shuffle.