Ethereum bull Hoffman exits ETH, splits capital across five altcoins

David Hoffman, co-founder of the Bankless newsletter and podcast, disclosed that he sold his entire ETH position and redeployed the proceeds across five altcoins: roughly 50% into a basket of VVV, NEAR, ZEC, and HYPE, with the remaining 50% into LIT.

Why it matters

Hoffman has been one of the most visible Ethereum-aligned commentators in crypto media since Bankless launched in 2019, framing ETH as the core asset for the open financial system. A full liquidation from that position is a notable vote of no-confidence in the near-term setup, and he tied the move to a prior public assessment that ETH's market cap now reflects its actual performance and is unlikely to see a significant structural revaluation.

Market impact

The post did not name price targets or position sizes, and the four-name basket plus LIT positions the rotation into mid-cap, narrative-driven tokens rather than BTC or stablecoins. For readers tracking Ethereum's narrative risk, the relevant signal is the source, not the tickers: a high-profile ETH bull stepping away from the asset outright is a sentiment data point the broader ETH community will weigh against the ongoing institutional bid from spot ETH ETFs.