For the weekly finale on July 15, ETH investment products posted $120 million worth of inflows, marking the largest weekly inflows for the asset since June 2021.
This is notable, as it appears that the Institutional sentiment towards Ether (ETH) is shifted into positive gear, with digital investment products offering exposure to the asset having posted four successive weeks of inflows.
Previously, ETH investment products had been on a long 11-week run of outflows that saw the total year-to-date (YTD) outflows hit as high as $458 million in mid-June.
According to a report from the newest edition of CoinShares’ weekly “Digital Asset Fund Flows”, Ether investment products posted inflows totaling $8.1 million between July 18 and July 22, adding to the previous week of suggestively major inflows of $120 million.
The $120 million figure notes the biggest weekly inflows for ETH products since June 2021, with CoinShares suggesting that “investor confidence is slowly recovering” as Ethereum’s long-awaited Merge nears completion.
As it stands, the YTD flows for ETH investment products have been fragmented down to $315 million worth of outflows, compared to $458 million in June.
Coinshares statistics also disclose that investment products offering exposure to Bitcoin (BTC) saw the largest inflows last week at $19 million, adding to the week before in which BTC funds created a hefty $206 million worth of inflows.
Notably, while institutional investors have been alerted with ETH for most of 2022, this view on BTC has remained relatively positive apart from a few bumps in the road where BTC products generated $241.3 million worth of inflows YTD.
In a report shared with Cointelegraph, Singapore-based asset manager IDEG claimed that the broader crypto investor sentiment is now beginning to transition from neutral to bullish, and expects Ethereum’s Merge to be a key driver of the market recovery.
The report states, “while there have been delays and minor setbacks in the PoW to PoS migration for Ethereum, the Merge is now projected for Sep ‘22 – this is giving the market a clear ‘positive upside catalyst’ to run with.”
The Merge is predicted to be a bullish landmark for Ethereum as it significantly improves the network’s sustainability and energy efficiency. The major upgrade will not reduce gas fees, however, and Layer 2s are expected to serve this function for the network in the foreseeable future.
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