Ethereum Sees Successful Shapella Upgrade, Triggers More Institutional Investors

According to the latest reports, it seems that Ethereum has been triggering more and more institutional investors. Check out the latest reports below.

It’s been just revealed the fact that the digital assets manager CoinShares says institutional investors are diving into the leading smart contract platform Ethereum (ETH). This came right after its successful Shapella upgrade.

In its latest Digital Asset Fund Flows Weekly Report, CoinShares finds that institutional ETH investment products were seeing inflows of $17 million last week, a sign of investor bullishness, according to the firm.

“Ethereum saw inflows totaling US$17 million last week, suggesting there is increasing confidence amongst investors following the implementation of the Shapella.”

According to the online publication the Daily Hodl, it seems that despite Ethereum’s big week of inflows, the crypto investment products overall suffered $30 million in outflows.

“King crypto Bitcoin (BTC) took the brunt of the losses, losing $53.1 million last week. Overall, BTC institutional investment products are still in the green by more than $250 million over the last four weeks,” the online publication notes.

“The profit-taking was focused on Bitcoin, which in the prior 4 weeks had seen a run of inflows totaling US$310 million, but last week saw outflows totaling US$53 million. Very minor inflows were seen in short-Bitcoin of US$1.5 million.”

In other news, there are also more BTC predictions out.

An analyst who masterfully predicted the crypto turnaround this year is unveiling his general plan to re-enter Bitcoin (BTC) as the crypto king struggles to reclaim $30,000.

Pseudonymous analyst DonAlt said recently that he’s planning to stay on the sidelines for now as he believes BTC is trading between key levels.

According to the crypto strategist, he’s looking for a reclaim of $30,000 or a correction all the way down to $20,000 before reaccumulating the crypto king.

“General plan for me is:

Buy back BTC I sold at ~$30,200 if we manage to reclaim $30,000.

Buy back BTC I sold if we retest $20,000.

Chill in between both of those.”