Shapella boosts Ethereum investment products: CoinShares

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.

Source : CoinShares

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.

Source : CoinShares

Most of the products altcoinswith the exception of XRP, also recorded positive flows, according to CoinShares.

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Profit taking was thus concentrated on Bitcoinwhich in the previous 4 weeks had recorded entries totaling $310 million.

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