Bankless co-founder dumps all ETH, reallocates into VVV,…

David Hoffman, co-founder of the Bankless media brand, has sold his entire ETH position and immediately redeployed the proceeds — roughly half into a basket of VVV, NEAR, ZEC, and HYPE, with the remaining 50% going into LIT.

Why it matters

Hoffman is not a casual retail voice. As one of Ethereum's most prominent public advocates, his exit carries symbolic weight that goes beyond the dollar amount involved. His stated rationale is pointed: Ethereum's market cap has already caught up with its actual performance, and a meaningful structural revaluation of ETH as an asset is unlikely going forward. That framing — from an insider who built a media empire around Ethereum's value proposition — is the kind of signal that ripples through the community.

Market impact

The reallocation itself is notable for where the capital went. NEAR, ZEC, HYPE, VVV, and LIT span Layer-1 alternatives, privacy assets, and newer speculative plays — a deliberate diversification away from the Ethereum ecosystem rather than a rotation within it. For ETH holders, the more consequential read is the thesis behind the trade: if a long-standing Ethereum bull has concluded the asset is fairly valued with limited upside, it adds another data point to the growing debate around ETH's role in the next market cycle.