Arthur Hayes: Ethereum Will Outperform The Entire Market (It’s My Biggest Position)

Arthur Hayes: Ethereum Will Outperform The Entire Market (It’s My Biggest Position)

From The Rollup by Where digital assets and finance converge. Hosted by Andy and Robbie.

September 7, 2026 · 41 min

About this episode

Arthur Hayes discusses the economic forces driving a potential bull market in digital assets, emphasizing Ethereum as a key investment.

Arthur Hayes joins us for a session to understand the underlying economic forces leading to a massive digital assets bull market in the coming months and years. The money printer is about to flip back on and Arthur Hayes says the Euro/Yen exchange rate is the tell everyone's missing. He gets into why Japan's forced unwinding of its massive carry trade, combined with France's brewing bond market crisis, all but guarantees a faster pace of dollar liquidity creation. He also makes the case that AI's unit economics problem becomes the government's next excuse to print more fueling the fiat debasement thesis further. He explains his positioning in the market and reveals why Ethereum is Maelstrom's largest position heading into this cycle. Arthur Hayes is the CIO of Maelstrom, the family office of BitMEX co-founder Arthur Hayes, and a prominent macro commentator in digital assets. The Rollup is where the leaders of digital assets and finance converge. Live from the financial capital of the world. Timestamps: 00:00 Intro 01:57 Fed Chair Warsh Is Irrelevant 04:03 Japan's GPIF Asset Shift 09:34 Japan's National Carry Trade 12:24 Exiting The Restrictive Regime 14:51 The AI Bailout Trade…

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