Institutional Investors Are Buying Ether As Merge Event Approaches.

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For seven consecutive weeks, Institutional investors have been investing heavily into Ether-based digital asset funds; as these products have recorded inflows in the weeks in question.

Ether based asset funds recorded inflows of $16.3 million, adding to a total of approximately $160 million; in inflows recorded in the last seven weeks.

The inflows in the last seven weeks explains the rally seen in Ether, the native token of the Ethereum blockchain. When comparing the price of Ether seven weeks ago to its current trading price, the native token has gained 57% from closing the 21st of June at $1,124.82 to stand at $1,770.39 as of the time of this writing.

CoinShares Head of Research James Butterfill explained that the rise in market sentiment for Ethereum-focused products is largely due to “greater clarity” relating to the upcoming Merge, which is set for September 19, 2022. Butterfill stated.

We believe this turn-around in investor sentiment is due to greater clarity on the timing of The Merge where Ethereum shifts from proof-of-work to proof-of-stake.”

Nairametrics.

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