The founder of Hash Global has liquidated all Ethereum (ETH) holdings, citing concerns over its valuation framework. Despite acknowledging the potential benefits of the U.S. CLARITY Act for Ethereum, the founder argues that regulatory clarity alone does not equate to a monetary premium similar to Bitcoin or gold. The market still evaluates ETH based on network revenue and ecosystem metrics rather than as a long-term store of value. The founder highlights that while ETH's role as a smart contract platform and DeFi infrastructure is significant, it lacks the simplicity and historical consensus that contribute to Bitcoin's monetary premium. The complexity of ETH's functions, such as staking and DeFi collateral, may hinder its valuation as a monetary asset. The founder believes that ETH's value should be based on concrete factors like network revenue and staking demand, rather than grand narratives or regulatory classifications.