The TRON founder says he cut 80-90% of his aggressive Ethereum positions between $3,600 and $4,000 and moved the proceeds into US tech equities
Justin Sun has quietly done something many crypto founders would never say out loud. He sold most of his Ethereum and bought US stocks.
In a lengthy interview on October 17, 2026, the TRON founder said he had cut nearly 80-90% of his aggressive ETH positions. Most of that selling happened in the $3,600-$4,000 range. The proceeds went mainly into US equities, with a heavy tilt toward technology.
Start with the Ethereum. Sun said he now holds just 20% of his original ETH as what he calls a base asset.
His framing explains the decision. Sun views ETH as an aggressive asset and Bitcoin as a foundational one.
His Bitcoin holdings, by contrast, have not moved. Sun said his core BTC position remains unchanged and sits in cold wallets, which are offline storage setups disconnected from the internet.
He tied that security choice to ongoing concerns about risks from quantum computing and AI algorithms.
Then there are the stocks. NVIDIA is his main US equity position, which he has not reduced, owing to the chipmaker’s prominence in AI.
Sun also holds a substantial allocation to the Nasdaq 100, the index tracking 100 of the largest non-financial companies on the Nasdaq exchange. He has no exposure to A-shares, the yuan-denominated stocks listed in mainland China.
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Sun owns a big slice of the Nasdaq 100, yet he described his outlook on it as slightly bearish.
His concerns center on capital concentration and rising interest rates. Capital concentration refers to how much money is clustered in a small number of giant companies, which can make an index more fragile than its size suggests.
Despite those worries, Sun has not taken any short positions. He holds a generally bearish stance on traditional assets but has chosen not to bet against them directly.
Sun said he is optimistic about AI applications and Web3, but cautious about traditional hardware sectors.
On-chain data indicated his overall holdings exceeded $2.25 billion prior to his public disclosures.
That data also pointed to positions in Bitcoin and stETH. stETH is Lido’s liquid staking token, which represents ETH that has been staked to help secure the Ethereum network while remaining tradable.
His interview largely confirmed what blockchain watchers could already piece together. The portfolio has rotated away from aggressive Ethereum exposure and toward Bitcoin and selected US equities.
The more useful read is about how Sun sorts risk. He has drawn a clear line between assets he considers foundational and those he considers aggressive, and he is sizing them accordingly.
Bitcoin gets cold storage and no selling. Ethereum gets a reduced base position. US tech, especially AI-linked names, gets the fresh capital.
Sun’s case is notable because he is not a traditional fund manager. He is a crypto-native founder openly choosing Nasdaq exposure over a large chunk of ETH.
What to watch next is whether Sun’s on-chain activity matches his stated plan. He says he will not repurchase ETH, and public wallets make that promise easy to verify.