UPS Digital Ethereum ETH

ETH outflows over last month stood at $80 million- Decoding details

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Weeks leading up to the Ethereum merge were marked by skepticism amongst investors, with many doubtful of the success of the network’s transition into a proof-of-stake mechanism.

This led to increased outflows for the leading alt.Following the merge on 15 September, CoinShares, in its latest edition of the “Digital Asset Fund Flows Weekly Report,” found that investors remained cautious as Ethereum [ETH]  logged the fourth week of outflows which totaled $15 million.

Total ETH outflows in the last month stood at $80 million. Last week, digital asset investment products registered inflows that totaled $7 million.

The minor investment activity last week was due to a lack of engagement amongst investors, Coinshares stated.This was brought about by a general decline in the cryptocurrency market and broader financial markets with rising inflation and a general spike in the cost of living.Source: CoinsharesAs a result of the “positive and negative flows by provider and asset” that was present in the market last week, the value of assets under management (AuM) declined by 11% over the previous week, as per the report.

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