The Shapella upgrade took place quite recently, and the operation was successful. It seems that this success has increased the attention on Ethereum. Digital asset manager CoinShares made this clear in its latest weekly digital asset fund flow report. He specifically talked about a class of investors who have become more interested in the Ethereum blockchain since its recent upgrade.
Ethereum sees inflows amid string of losses
A recent technical analysis revealed that Ether (ETH) is declining. However, the Ethereum blockchain has generally performed well in recent days. Proof, institutional investors are optimistic about the future of Ethereum since the success of Shapella. This was recently revealed by CoinShares in its report. The digital asset manager has seen new inflows into institutional ETH investment products.
These have been estimated at no less than 17 million dollars after the success of Shapella, last week. “Ethereum saw inflows totaling $17 million last week, suggesting investors are growing more confident following the implementation of Shapella», said CoinShares.
However, digital asset investment products overall suffered losses. These were estimated at $30 million. Also, overall, gains have been minor for the majority of altcoins. For example, multi-asset institutional investment products garnered just $1.5 million in inflows.
Meanwhile, Polygon Institutional Investment Products (MATIC) saw inflows of $1 million. Those in Litecoin (LTC) raised $0.7 million. Meanwhile, Solana (SOL) totaled $0.2 million in inflows.
While Ethereum was recording inflows, Bitcoin suffered big losses last week. Indeed, the flagship crypto lost at least $53 million. Nevertheless, institutional BTC investment products remain in the green. The crypto has garnered over $250 million in inflows over the past four weeks. In fact, the performance of bitcoin (BTC) has been generally positive since the start of this year. However, some analysts fear that the pace of growth of the largest blockchain by market capitalization could end up hurting it. Justin Bons, the founder of Cyber Capital, recently stated that this pace could pose a major security threat to Bitcoin.
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