Bankless co‑founder David Hoffman sells last ETH, rebalances while remaining bullish on Ethereum ecosystem

David Hoffman, co‑founder of Bankless, said he sold the last of his ETH position, arguing the “ETH is money” investment thesis has largely played out and that the token has already reached the price it deserves ^{[1] [2] [3]}.

Hoffman explained his decision in a written post, saying he does not expect ETH to be materially rerated higher or lower and that the sale reflects an asset allocation view rather than a loss of confidence in Ethereum’s technology ^{[4] [1]}.

He stressed he remains bullish on the Ethereum ecosystem — including applications, layer‑2s and stablecoin utility — even as he exits his personal token position, framing the move as a rebalancing from a monetary thesis to continued support for the protocol’s growth ^{[2] [1] [4]}.

Hoffman’s sale highlights a distinction between conviction in Ethereum’s long‑term utility and a more measured view on the token’s prospective price rerating ^{[1] [2]}.