Arthur Hayes, co-founder of BitMEX exchange and crypto-focused Maelstrom Fund, dumped his entire Hyperliquid (HYPE) and Near protocol (NEAR) holdings ahead of the SpaceX IPO scheduled for next week. Hayes cited the upcoming IPOs of SpaceX, Anthropic, and OpenAI as the reason for rebalancing his altcoin portfolio, stating it was "time to take profit." The move reflects growing analyst concern that major AI company public listings could create bearish pressure on the cryptocurrency market.
Hayes Exits HYPE and NEAR Holdings Ahead of SpaceX IPO
Hayes announced the complete liquidation of his HYPE and NEAR positions in response to the upcoming SpaceX IPO. According to his statement, the scheduled IPOs of SpaceX, Anthropic, and OpenAI forced him to rebalance his altcoin portfolio. Hayes made a bullish "HYPE to $100" call earlier in the week, only to report exiting his entire holdings three days later. Some market watchers view his bullish posts as a way to look for exit liquidity for his trades, noting that his bullish posts in the past were immediately followed by massive sell-offs by his fund.
Hayes Retains Worldcoin Position Through IPO Week
For the SpaceX IPO scheduled for next week, Hayes maintained a bullish stance on Worldcoin (WLD), stating "The SpaceX IPO is going to melt people's faces off. Holding the $WLD through the listing next week." The altcoin surged 12% in the past 24 hours following his comments. Hayes' bullish view on Worldcoin appears connected to the protocol's focus on human identification in the era of AI and AI agents.
Altcoin Exchange Inflows Drop Across Major Platforms
Altcoin investors trimmed their positions as Bitcoin extended its plunge this week. According to CryptoQuant, Altcoin Exchange Inflows dropped across all exchanges, including Binance and Coinbase. The data showed altcoin traders were in a risk-off mode as BTC dropped to February lows. The altcoin season index was nearly at a neutral level (49) despite this week's pullback.
FAQ
What altcoins did Arthur Hayes sell ahead of the SpaceX IPO?
Arthur Hayes dumped his entire Hyperliquid (HYPE) and Near protocol (NEAR) holdings ahead of the SpaceX IPO scheduled for next week, citing upcoming IPOs of SpaceX, Anthropic, and OpenAI as the reason for rebalancing his portfolio.
Why did Arthur Hayes keep his Worldcoin position?
Hayes retained his Worldcoin (WLD) position through the IPO week, stating he views the SpaceX IPO as positive for WLD. The altcoin surged 12% in the past 24 hours following his announcement.
How did altcoin inflows change this week?
According to CryptoQuant, Altcoin Exchange Inflows dropped across all exchanges including Binance and Coinbase as Bitcoin dropped to February lows, indicating altcoin traders entered a risk-off mode.
