Here’s Where Arthur Hayes Is Putting His Money in 2026

BitMEX co-founder Arthur Hayes has made bold moves into decentralized finance (DeFi) tokens, signaling a clear rotation from Ethereum into protocols he believes are poised for a 2026 recovery.

On-chain data shows Hayes deployed over $3.4 million in four DeFi assets: $1.97 million in ENA, $735,330 in ETHFI, $515,360 in PENDLE, and $259,960 in LDO.

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Which Tokens Is Arthur Hayes Accumulating for 2026?

The accumulation comes as these tokens trade significantly below their all-time highs, reflecting a broader downturn in the DeFi sector.

Lookonchain reports that Hayes converted another $5.5 million in Ethereum into a basket of DeFi protocols, including:

• 4.86 million ENA tokens valued at $986,000
• 697,851 ETHFI tokens worth $485,000.

The largest share of his allocation, over 50%, is concentrated in PENDLE, a yield tokenization protocol.

Arthur Hayes has been steadily accumulating these assets during price dips, indicating a belief in their long-term value. Ted Pillows, a crypto analyst, has confirmed the recent withdrawals.

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This consistent accumulation reflects a portfolio strategy grounded in fundamental value rather than short-term speculation.

Catalysts Behind Arthur Hayes’ Bets Range from ETF Prospects to Strong Revenues

Each token in Hayes’ new allocation is tied to a specific growth narrative.

ENA could benefit from Bitwise’s recent ETF filing, which includes 11 cryptocurrencies, potentially opening the door for institutional inflows.

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Pendle has demonstrated strong revenue generation despite low token prices, delivering consistent quarterly cash flow to token holders.

Ether.fi (ETHFI) is seeing record revenue through its Neobank pivot, with monthly card payment volumes nearing $50 million.

Protocol buybacks, currently between $500,000 and $1.5 million weekly, are set to combine with reduced token emissions in 2026, addressing ongoing sell pressure.

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Lido’s LDO exposure offers access to Ethereum staking, with the protocol controlling nearly 25% of staked ETH. This is more than double that of major competitors.

Additionally, Ether.fi’s treasury reserves and leading market share position it to capitalize on growing demand for staking yields.

While Hayes’ moves highlight confidence in a DeFi rebound, the market remains subdued. Regulatory approvals for ETFs, token emission schedules, and competition in staking could all influence performance.

Concentration risk is notable, as more than 60% of his portfolio rests on a sector still emerging from a downturn.

Still, Hayes’ methodical accumulation during low-price periods suggests a long-term strategy. By rotating out of Ethereum and focusing on DeFi protocols with revenue, market share, and institutional catalysts, Hayes appears to be positioning for a potential sector resurgence in 2026.