Investments in cryptocurrency have seen a significant rise, with a weekly cumulative amount of $185 million reported for the last week of May. The latest CoinShares report on digital asset fund flows, released on June 3, highlighted impressive monthly investment fund inflows of $2 billion, pushing the year-to-date capital inflow to over $15 billion.

From a statistical standpoint, the United States emerges as the frontrunner, contributing $130 million to the weekly inflows. However, the report also noted outbound flows of $260 million from incumbent issuers. Bitcoin (BTC) emerged as the primary beneficiary of investments, attracting $148 million in investment flows, while short Bitcoin funds experienced weekly outflows of $3.5 million.

Ether (ETH) also witnessed a notable resurgence, with weekly inflows reaching approximately $33.5 million and a month-to-date inflow surpassing $21.6 million. This shift in investor sentiment is likely attributable to the recent approval of Ether exchange-traded funds (ETFs) in the United States.

Alongside Ethereum, Solana's SOL demonstrated consistent growth, with a weekly inflow valued at around $5.8 million and a monthly increase of $24.8 million.

Despite positive trends overall, multi-asset funds faced challenges in May, with weekly outflows amounting to $2.7 million and monthly outflows totaling $12.2 million.

The approval of Ether ETFs on May 23, 2024, has had a significant impact on the market. Since then, over $3 billion worth of ETH has been transferred out of centralized exchanges, leading to concerns about potential supply shocks as exchange balances reach multi-year lows.