After liquidating all ETH holdings, the Bankless co-founder bought VVV, NEAR, ZEC, HYPE, and LIT.

According to BlockBeats, on June 3, Bankless co-founder David Hoffman stated that after selling all his ETH holdings, he immediately invested approximately 50% of the funds into VVV, NEAR, ZEC, and HYPE; the remaining 50% was kept as cash reserves to be gradually allocated through dollar-cost averaging, all of which has now been used to purchase LIT.

On May 21, Bankless co-founder David Hoffman announced that he had liquidated all his ETH. He later published a detailed post explaining the reasons behind selling his spot Ethereum, emphasizing that this decision was not impulsive. David stated that the grand narrative of “ETH as money” has not failed, but has already been fully priced in and played out to its logical conclusion—the Ethereum network has achieved a valuation commensurate with its current accomplishments, but the ETH asset itself is unlikely to be repriced by the market, whether upwards or downwards. He remains extremely optimistic about the Ethereum network and believes its ecosystem will thrive, but only a small portion of this success is likely to continue to be reflected in the price of ETH.