Merger jitters drive exit from Ether-based investment products
CoinShares Head of Research James Butterfill Says Exits Come Despite "Improved Merger Certainty" .
New
Institutional investors may be hesitant ahead of the Ethereum merger, with Ether-based digital asset investment products seeing an outflow of $61.6 million, signaling concerns about the success of the upgrade.
In its weekly digital asset fund flow report, fund manager CoinShares reported that Ether-based investment products accounted for the majority of total outflows during the week of September 5-11, leading to the fifth straight week of market exits.< /p>
Report author James Butterfill said the cash outflows came “despite improved merger certainty,” which may highlight concern among investors that “ the event might not go as planned,” referring to the upcoming Ethereum merger scheduled for September 1. 15.
This despite the likelihood of a successful fusion upgrade over the past week, with the Bellatrix upgrade passing relatively unscathed on September 6.
84.6% of Ethereum nodes are now also "merge-ready", according to Ethereum node data aggregator Ethernodes, which is a 15.1% increase from 73.5% from "ready for merge" from last week.
Butterfill also noted that CoinShares had previously argued that the Ethereum upgrade was unlikely to cause any problems, as the technical specifications of the hard fork have been rigorously tested.
Related: ETH Institutional Sentiment Turns Positive After 11 Weeks of Releases
Meanwhile, there is still no consensus on whether and whether the Ethereum merger was factored into the price of ETH, which currently sits at $1,688. ..
CoinShares Head of Research James Butterfill Says Exits Come Despite "Improved Merger Certainty" .
New
Institutional investors may be hesitant ahead of the Ethereum merger, with Ether-based digital asset investment products seeing an outflow of $61.6 million, signaling concerns about the success of the upgrade.
In its weekly digital asset fund flow report, fund manager CoinShares reported that Ether-based investment products accounted for the majority of total outflows during the week of September 5-11, leading to the fifth straight week of market exits.< /p>
Report author James Butterfill said the cash outflows came “despite improved merger certainty,” which may highlight concern among investors that “ the event might not go as planned,” referring to the upcoming Ethereum merger scheduled for September 1. 15.
This despite the likelihood of a successful fusion upgrade over the past week, with the Bellatrix upgrade passing relatively unscathed on September 6.
84.6% of Ethereum nodes are now also "merge-ready", according to Ethereum node data aggregator Ethernodes, which is a 15.1% increase from 73.5% from "ready for merge" from last week.
Butterfill also noted that CoinShares had previously argued that the Ethereum upgrade was unlikely to cause any problems, as the technical specifications of the hard fork have been rigorously tested.
Related: ETH Institutional Sentiment Turns Positive After 11 Weeks of Releases
Meanwhile, there is still no consensus on whether and whether the Ethereum merger was factored into the price of ETH, which currently sits at $1,688. ..
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