Digital asset funds saw a continuous surge in inflows for the fourth week in a row, as per the latest report “Digital Asset Fund Flows” by CoinShares, which was released on June 3rd.
The report revealed that digital asset funds experienced weekly inflows of $185 million for the last week of May, with the total monthly inflows reaching $2 billion. This brings the year-to-date inflow of capital to over $15 billion.
The majority of the weekly inflows came from the United States, amounting to $130 million. However, the report also highlighted outflows of $260 million from incumbent issuers in the United States.
Bitcoin (BTC) dominated the weekly inflows, with the decentralized cryptocurrency attracting $148 million in investment flows. Meanwhile, short Bitcoin funds saw weekly outflows of $3.5 million, resulting in a total of $12.5 million in outflows for the month. This suggests that sentiment among Bitcoin investors remains positive.
Ether (ETH) witnessed weekly inflows of $33.5 million for the final week of May, with month-to-date inflows totaling $21.6 million. This marks a reversal in investor sentiment, possibly driven by the approval of Ether exchange-traded funds (ETFs) in the United States. In previous weeks, institutional investors had shown a decline in sentiment, leading to outflows of $200 million from ETH exchange-traded products.
There were also positive inflows to Solana’s SOL, with $5.8 million in inflows for the week ending on May 31st, bringing the monthly total to $24.8 million.
However, multi-asset funds had a poor performance in May, recording weekly outflows of $2.7 million for the final week and monthly outflows of $12.2 million.