- Arthur Hayes has invested $1.06 million to acquire 2.16 million Ethena (ENA) tokens, following the project’s partnership with Anchorage Digital to launch a GENIUS Act-compliant stablecoin in the U.S.
- The move comes amid a strong market response, with ENA up 8% and trading volume surpassing $1 billion.
BitMEX co-founder has been a voice to reckon in the crypto space. Having an impact in this rapid rowing landscape, the co-founder is, this time, placing his bet on Ethena. Notably, Arthur Hayes has acquired 2.16 million ENA tokens at a cost of approximately $1.06 million.
Interestingly, the purchase comes hot on the heels of Ethena’s newly announced partnership with Anchorage Digital, aimed at launching a GENIUS Act-compliant stablecoin in the United States.
Reminiscing, this is not the first time Arthur Hayes has been involved with the fast rising digital asset. As earlier reported, in this case, his opinion, Ethena will eventually overtake Tether in terms of market share, in line with what ETHNews previously disclosed.
This audacious forecast demonstrates Hayes’ larger approach of making investments in cryptocurrencies that he believes have significant potential and might completely transform particular market niches.
According to on-chain data from Arkham Intelligence, Hayes made the purchase through Binance, Galaxy Digital, and Flowdesk. His latest acquisition brings his total ENA holdings to 7.76 million tokens, now worth around $3.73 million. This move not only signals confidence in ENA’s long-term prospects but also underscores Hayes’ ongoing commitment to backing innovative digital asset protocols.
The timing of the buy couldn’t be more strategic. Ethena’s partnership with Anchorage Digital, revealed Thursday, positions the project to launch its USDtb stablecoin in the U.S. market, which now has clearer regulatory guidelines under the newly passed GENIUS Act. President Trump’s signing of the legislation last week has sparked a fresh wave of institutional interest in compliant stablecoin projects, and Ethena is now among the key players.
The market has responded with enthusiasm. ENA is currently trading at $0.4997, up 8.43% on the day. Trading volume has surged by 47% to cross the $1 billion mark, highlighting strong investor interest and bullish sentiment. Over the past week, ENA has gained 25%, with monthly gains clocking in at a staggering 86%. Analysts now predict a short-term price rally to $0.60, as institutional adoption gains steam.
Ethena’s USDtb is currently backed by traditional financial assets, with a market cap of $1.4 billion. Notably, $1.1 billion of these reserves are held in BlackRock’s BUIDL tokenized fund, while the remainder is mainly comprised of USDC. This backing structure makes USDtb a robust and payment-focused stablecoin, attractive to both retail and institutional players.
Earlier this month, Hayes had expressed a bullish outlook on ENA following its listing on the Upbit exchange, forecasting a potential price surge to $1. With his latest multimillion-dollar investment, it’s clear he’s putting his money where his mouth is.
As the stablecoin wars heat up and regulatory clarity emerges, Arthur Hayes’ strategic bet on Ethena may very well signal a broader shift in crypto investment priorities—toward regulatory-compliant, yield-generating digital assets poised to redefine global finance.
