CoinShares: Weekly Investment in ETH-based Products Increases Following Shapella Upgrade

Last week saw Ethereum-linked digital asset investment products experience net inflows of around $17 million, a significant increase from the $300,000 seen in the previous week.

This appears to indicate investor confidence following the April 12 blockchain upgrade. In contrast, total investments in digital assets through exchange traded investment products saw net outflows of around $30 million, ending a six-week streak of inflows.

Bitcoin had previously seen net inflows of $310 million in the prior four weeks, yet last week saw outflows of $53 million.

This suggests that the recent sell-off may have been a result of profit-taking, especially in the absence of any macro-economic triggers.

Since the upgrade, approximately 1.66 million staked Ether ($3.04 billion) have been withdrawn, with another 1.07 million Ether deposited for staking.