A leading crypto asset manager says large institutional investors are backing out of Ethereum (ETH) as the merge approaches.
In their latest Digital Asset Fund Flows Weekly report, CoinShares suggests investors may have anxiety over the outcome of the smart contract platform’s highly-anticipated transition to proof-of-stake (PoS).
“Digital asset investment products saw outflows totaling $63 million, the fifth consecutive week of outflows…
Ethereum was the primary focus of the outflows, totaling $62 million last week, this comes despite the improved certainty of the merge and perhaps highlights a concern amongst investors that the event might not go as planned.”
CoinShares also says the last month of outflows has been relatively small and doesn’t necessarily reflect current price