Key Highlights
- Former BitMEX CEO Arthur Hayes forecasts Ethereum will reach $10,000 before 2026 ends, representing over 3x its present value.
- ETH currently hovers around $2,700, remaining approximately 46% under its record high of $4,946.
- Spot Ethereum ETFs recorded a $2.8 million outflow, breaking a positive inflow trend that started on September 18.
- The cryptocurrency surged nearly 70% during Q3 2026 following consecutive quarters of losses.
- Total cumulative inflows into ETH ETFs have reached $13.95 billion.
For the previous two weeks, Ethereum has maintained a position above the $2,500 threshold, though breaking through $2,800 continues to prove challenging. Technical analysis shows the asset consolidating within a triangular formation.
During the KBW2026 conference held in Seoul, Arthur Hayes, who previously served as BitMEX’s chief executive, was questioned about his outlook for Ethereum’s value. In footage shared on X by CoinDesk, Hayes provided a straightforward response: “$10,000 by the end of the year.” This projection represents more than triple ETH’s present trading level around $2,700.
During his conversation, Hayes elaborated on the logic behind his forecast. He emphasized his confidence in deploying substantial capital into ETH without concerns about experiencing a catastrophic 75% decline due to security vulnerabilities.
He also discussed why Ethereum has underperformed relative to competing blockchain platforms. According to Hayes, this underperformance stems from market attention shifting toward alternative chains.
Hayes’s Case for Ethereum’s Security Advantage
Hayes cited Solana as a prime example. The network successfully captured momentum in the memecoin sector and experienced rapid expansion while Ethereum’s growth decelerated.
“Ethereum pioneered this whole decentralized computer thing and then was the victim of its own success,” he stated. Competing blockchains absorbed the market share Ethereum relinquished.
Nevertheless, Hayes maintains that Ethereum stands as the most secure layer 1 blockchain network. He supports this claim by referencing its market capitalization relative to competing altcoins.
Interestingly, Hayes’s personal ETH trading activity hasn’t always aligned with his optimistic projections. This past August, he liquidated 2,365 ETH at approximately $1,821 per token, resulting in a $241,000 deficit. His initial purchase averaged $1,923 per ETH.
The previous July saw him sell 5,900 ETH for nearly $10 million. This position was acquired just days prior for $10.58 million, generating a loss exceeding $600,000.
Recent Changes in ETF Investment Patterns
Beginning September 18, spot Ethereum ETF products experienced consistent daily net positive inflows. Throughout this period, these investment vehicles accumulated over $850 million.
This positive trend concluded with a $2.8 million withdrawal during the latest 24-hour trading session. The week immediately preceding recorded $689.9 million in net positive inflows.
Aggregate cumulative investments into Ethereum ETF products currently stand at $13.95 billion. September contributed $892 million in net inflows, with just one trading session remaining in the month.
Ethereum’s quarterly results have demonstrated greater strength than recent daily fluctuations indicate. According to Coinglass data, ETH appreciated almost 70% throughout Q3 2026.
This performance followed a 29.26% decline during Q1 and a 25.28% decrease in Q2. The third quarter represented a significant reversal following two consecutive quarters of negative returns.
As of this writing, ETH had declined 1% across the previous 24 hours and approximately 3% over the past seven days. However, the two-week performance showed gains exceeding 11%, while the monthly comparison revealed a 9% increase.
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