According to CoinSharesthe Ethereum investment products have recorded entries totaling 17 million dollars the last weeksuggesting a ” growing confidence “of investors following the deployment of Shapella.
The crypto investment products – Grayscale, CoinShares, 21 Shares, ProShares or Purpose – have recorded exits totaling 30 million dollars last week, ending a six-week run of entries, reports the digital asset manager CoinShares in its latest weekly report.
The exits began the previous Friday (April 14) when Bitcoin hit the highly psychological $30,000 level, suggesting that the most recent sell-off was the result of profit-taking, especially in the absence of any macroeconomic triggers,” reads the report released Monday.
On the flip side, Ethereum products, meanwhile, have recorded entries totaling 17 million dollars. A performance suggesting a “ growing confidence “among investors following the Shapella – or Shanghai – update on the Ethereum network that allows validators to withdraw their staked ethers. “Interestingly, the inflows were only fromEurope “, says the company.
Most of the products altcoinswith the exception of XRP, also recorded positive flows, according to CoinShares.
Profit taking was thus concentrated on Bitcoinwhich in the previous 4 weeks had recorded entries totaling $310 million.
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