BitMEX Co-Founder Arthur Hayes Bets Big on Ethereum: $20K Price Target Amid Institutional Surge

BitMEX exchange News - BitMEX exchange co-founder Arthur Hayes has repositioned into Ethereum, projecting a $20,000 price target for this market cycle. His bullish pivot follows a recent $13.35 million divestment of other digital assets, signaling strategic confidence in ETH's momentum. Technical chart patterns and growing institutional demand FORM the foundation of his conviction.

Corporate adoption continues accelerating, with Tom Lee's BitMine adding $220 million in ETH to its treasury reserves. Institutional holdings now exceed 4.1 million ETH—representing a $17 billion stake that accounts for 3.39% of total supply. When questioned about ethereum versus Solana, Hayes maintained an overweight ETH position, citing superior network momentum and institutional preference.