FIMA Facility Tapped for Yen Rescue Could Fuel Bitcoin, Gold, and Ether Price Surge

BitMEX co-founder Arthur Hayes predicts that Japan will tap into the Federal Reserve's FIMA repo facility to rescue its weakening yen. This move could have a positive impact on Bitcoin, gold, and Ether prices.

Hayes estimates that Japan and GPIF together hold around $1.37 trillion in Treasuries eligible for use as FIMA collateral. He notes that raising the facility's $60 billion cap requires approval from the Fed's Foreign Currency Subcommittee, but this process can be done quickly without a public vote or published minutes.

The resulting liquidity surge would likely favor monetary assets over speculative capital spending, which could boost the prices of Bitcoin, gold, and Ether. Hayes points out that there is a historical correlation between Fed balance sheet growth and Bitcoin's price trajectory, with the asset's price rising during periods of expansion.

Hayes also highlights Ether as an asset that has not yet reclaimed its 2025 record high and is well-positioned for a liquidity expansion. He mentions Ethena's token, ENA, as another smaller-cap pick tied to the same liquidity thesis.