Shanghai update on Ethereum worries investors: CoinShares

According to CoinShares, l’outflow on the products investment products Ethereum suggests that investors are concerned by the arrival of the update Shanghai.

This Monday, CoinShares reports that the crypto investment products recorded inflows to the tune of $2.5 million last week with volumes down 33% from the previous week.

Sentiment for Bitcoin was quite favorable, with inflows of $8.8 million […] Ethereum outflows ($2.8 million) and short-Ethereum inflows ($0.5 million) suggest that investors remain concerned about the upcoming Shanghai upgrade,” the digital asset manager wrote in its latest report.

Source : CoinShares

The recent price increase in the market has propelled total assets under management in bitcoins to its highest level since 3AC’s collapse in 2022 at $23.5 billion, CoinShares notes.

For EthereumToday, investors are concerned about Shanghaior Shapella (Shanghai+Capella), an update that will normally take place on April 12th. The update will allow the withdrawal of staked ethers and may create selling pressure.

A number of analysts believe however that the pressure should not be too great because not all staked ETH can be withdrawn at the same time but also because many holders would have staked their tokens at a higher price level than currently.

Side altcoinsCoinShares shows itself “ mixed,” indicating that XRP and MATIC had inflows totaling $0.8 million and $0.3 million, respectively, while NBB and ADA had outflows of $0.34 million and $0.29 million, respectively.

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