Institutional investor sentiment about ETH improves as Merge approaches

Related: Ethereum Merge most effective– “Hiccups will not delay the Merge.”

The Merge, a highly anticipated Ethereum upgrade, changes the agreement mechanism of Ethereum from proof-of work to proof-of stake. The Merge is in the middle of a last testrun. It will be ready for its main launch prior to October.

Crypto Twitter has been hectic discussing whether Ethereum needs to be classified as a security. The specter of tribalism has also raised its ugly head. Bitcoin maximalists agreed MicroStrategy CEO Michael Saylor, who stated that ETH was “obviously” a security last Wednesday.

Spot rate for Ethereum today has not shown institutional investors enthusiasm for Ethereum. ETH trades at $1,047 today, down 2.9% in the last 24 hours, after losing 28% over the previous month according to CoinGecko.

Ethereum rates have fallen once again today, there are indications that professional financiers are starting to warm up to the asset as the Merge approaches.

This has actually been extensively challenged by Ethereum proponents, including Vitalik Buterin, co-founder of Ethereum, who presented his view on July 12
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CoinShares said that inflows from Ethereum funds suggest a minor turnaround in sentiment after 11 weeks of outflows, which brought 2022 outflows up to a peak at US$ 460M. It also recommended that this change could be due to the Merge happening later on in the year.

Fund supervisor CoinShares reported in its weekly digital asset fund streams report that Ethereum-based products experienced inflows for the 3rd week running. For institutional Ethereum funds, there was an inflow of $7.6 million. The Merge, a highly prepared for Ethereum upgrade, alters the consensus mechanism of Ethereum from proof-of work to proof-of stake. Crypto Twitter has actually been hectic talking about whether Ethereum should be categorized as a security.

The general inflow was $14.6 million. However, short Bitcoin funds accounted for $6.3 million. This recommends that investors are still cautious about the crypto king. U.S. funds and exchanges saw $8.2 million inflows, with 76% comprising short positions. This resembles the week ended July 8.

Late June saw record outflows from Ethereum-based funds of $423 million. This was the biggest week in which institutional financiers began to inject capital into Ethereum-based funds.

Fund supervisor CoinShares reported in its weekly digital asset fund streams report that Ethereum-based products experienced inflows for the third week running. For institutional Ethereum funds, there was an inflow of $7.6 million. Nevertheless, for Bitcoin funds, there was a loss of $1.7 million.

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