Arthur Hayes accumulates $1 million in ENA ahead of Hyperliquid USDH vote, betting on Ethena’s adoption.
Bitcoin ETFs post $757 million in inflows, erasing redemptions; Ethereum ETFs recover with $172 million in inflows.
Russia to allow funds to buy crypto derivatives in 2026, while Bitmine solidifies its position as the largest ETH holder.
The cryptocurrency market is abuzz with developments ranging from personal bets by industry veterans to institutional inflows reshaping demand for Bitcoin and Ethereum. Traders closely watch Arthur Hayes' ENA insights for guidance on crypto market trends. Here’s a look at the significant stories making headlines.
Former BitMEX CEO Arthur Hayes has quietly amassed a substantial position in Ethena (ENA) tokens, purchasing nearly $1 million worth in 48 hours. His last purchase of 578,956 ENA added $473,000 to his holdings, bringing the total to more than 5 million tokens valued at $3.91 million.
Recent Bitcoin ETF inflows signal growing institutional interest in digital assets. The timing is critical. On September 14, Hyperliquid validators will vote on which issuer will manage its USDH stablecoin. Ethena’s proposal, backed by BlackRock’s BUIDL fund, and offering a 95% revenue share to Hyperliquid.
Hayes has long been bullish on Ethena, predicting 51x returns by 2028, and his recent moves align with his thesis that stablecoin adoption could hit $10 trillion. Ethena already runs the third-largest stablecoin, USDe, with $13.5 billion in deposits.
Wall Street’s appetite for Bitcoin is surging again. On September 10, spot Bitcoin ETFs attracted $757 million, their strongest day since July. Fidelity’s FBTC led the way with $299 million, followed by BlackRock’s IBIT at $211 million and Ark Invest’s ARKB with $145 million.
The inflows erased the prior month’s redemptions, leaving September net positive at $1.39 billion so far. Bitcoin’s price has responded, reclaiming the $114,000 level with bullish momentum building into next week’s Federal Reserve meeting.
A massive Ethereum Whale buy has pushed the market sentiment into bullish territory. Ethereum ETFs also turned positive, pulling in $172 million the same day, reversing a week of redemptions. BlackRock’s ETHA led with $74.5 million in new money.
Also Read: Bitcoin Price Today Nears $114,300 as Resistance at $115,000 Looms
Another institutional milestone was reached by Bitmine Immersion Technologies, a Nasdaq-listed firm that acquired 446,255 ETH, worth approximately $201 million, on September 10. The purchase pushed its total holdings to 2.12 million ETH valued at $9.3 billion, cementing its status as the world’s largest corporate Ethereum holder.
Bitmine now controls nearly 5% of ETH’s total supply, echoing MicroStrategy’s dominance in Bitcoin. The move reduces market liquidity and could create stronger upward pressure on ETH, which is currently trading above $4,400, representing a 90% increase over the past year.
The launch of VanEck Hyperliquid ETF aims to provide investors with more flexible exposure to crypto. Asset manager VanEck is preparing an ETF tied to Hyperliquid’s HYPE token, blending spot exposure with staking rewards. The innovative structure could redefine digital asset ETFs and pave the way for HYPE’s potential listing on Coinbase.
HYPE’s price already jumped 20% this week to $55.34, breaking key resistance and setting sights on the $60-$65 zone. Institutional interest from VanEck has added fuel to the rally, boosting confidence in Hyperliquid’s path from niche DeFi player to mainstream contender.
Also Read: ETH Leads Tokenized Asset Market as Value Reaches $290 Billion
The Bank of Russia plans to allow investment funds to buy crypto derivatives, starting to expand access beyond brokers who currently sell such products. Deputy director Valery Krasinsky confirmed the move at the Capital Markets 2025 forum, noting a draft regulatory act is already prepared.
Initially, only highly qualified investors will be eligible, those with large portfolios or high annual income. The Ministry of Finance has suggested easing these criteria to widen participation. While the regulator remains cautious, it acknowledges growing demand for digital assets.
Regulatory updates on Russian crypto derivatives are impacting trading volumes in the region. Officials stressed that this is unlikely to create new large-scale funds, as Russia aims for traditional markets, such as stocks and bonds, to remain dominant while cautiously expanding its crypto exposure.
From Hayes’ ENA bet to institutional ETF flows and whale-sized Ethereum buys, crypto markets are showing strength across multiple fronts. Meanwhile, global policy shifts from the Fed’s upcoming rate decision to Russia’s gradual embrace of crypto derivatives underscore how regulation and institutional demand are shaping the next phase of growth.
1. Why did Arthur Hayes buy ENA tokens?
Hayes is positioning ahead of Hyperliquid’s USDH stablecoin vote, betting Ethena’s proposal will succeed.
2. How much money flowed into Bitcoin ETFs recently?
Bitcoin ETFs saw $757 million in inflows on September 10, their strongest day since July.
3. What makes Bitmine’s ETH purchase significant?
With 2.12M ETH worth $9.3 billion, Bitmine now controls nearly 5% of Ethereum’s supply.
4. What is VanEck planning with HYPE?
VanEck is preparing the first ETF tied to Hyperliquid’s HYPE token, combining spot and staking rewards.
5. When will Russia allow funds to invest in crypto derivatives?
The Bank of Russia aims to open access in 2026, initially only for highly qualified investors.