According to CoinShares, the overall institutional sentiment towards Ether (ETH) has skewed towards positive after 11 weeks of inflows.
In mid-June, ETH saw the total year-to-date (YTD) outflows hit as high as $458 million. As for the week ending July 15, ETH investment products posted inflows worth $120 million — making this the largest weekly inflows for ETH products since June 2021.
With these data in mind, CoinShares suggested that this would greatly improve the investors’ confidence towards ETH.
As of now, compared to $458 million worth of outflows in June, the YTD flows for ETH investment products have lowered to $315 million.
According to data from CoinShares, inflows from investment products that offer exposure to Bitcoin (BTC) garnered an amount of $19 million last week. With the addition from the week before, BTC funds gained a massive $206 worth of inflows.
For most of 2022, institutional investors have been cautious with ETH. However, sentiment towards BTC has stayed relatively positive for the most part, with $241.3 million worth of inflows YTD generated from BTC products.
Singaporean asset manager IDEG argued that Ethereum’s Merge is expected to be a key turning point for the market recovery, and that the previously neutral sentiment that the crypto investors had is now turning bullish.
With the Merge significantly improving the energy efficiency and network stability, it is expected to be a bullish catalyst for Ethereum. Although, the major upgrade will not reduce gas fees, and in foresight, layer 2s are expected to serve this function for the network.