While the crypto markets have been hit hard in recent months, some investment products are slightly recovering across several countries. Ethereum assets have been on the rise in recent days, showing growth across major indices. This is great news for Ethereum. The signs indicate that investors are becoming more confident in the cryptocurrency with a planned merge on the horizon.
Back On Track
Institutional investors are eyeing a recovery for digital asset investment products, as seen in CoinShares’ latest weekly report.
According to the report, there were over $15 million in inflows last week. In addition, the assets under management (AuM) have recovered from a year and a half low to $36.2 billion.
The United States exchanges saw inflows of $8.2 million, with 76% coming from short positions in last week’s trading session- among the highest rates for any country on this continent.
Also, the largest outflows were from Sweden totalling $2 million. After Sweden, we have Brazil and Germany in the top 3 outflows.
In the report, inflows into short-term Bitcoin totalled $6.3 million with minor outflows of $1.7 million while Ethereum-based funds saw the most prominent growth.
Ethereum continues to succeed, with fresh funds pouring in from various sources due to the Merge. The Ethereum merge is expected later this year and has already caused many inflows.
The inflows suggest that sentiment is turning around after 11 consecutive weeks of outflows, bringing 2022 outflows to a peak of $460 million.
What Does This Mean For Ethereum?
As of the time of writing this, ETH is trading below $1,100. There were indications that it would drop below $1,000, especially after market volatility took BTC below the $20,000 mark.
But ETH volume is still up by 2.85% which means there are still exits on ETH holdings. It seems ETH is about to witness a testing period until the Merge finally happens.
