Digital asset funds experienced a fourth consecutive week of inflows, according to the latest CoinShares “Digital Asset Fund Flows” report, released June 3.

According to the report, digital asset funds saw $185 million in weekly inflows for the final week of May, with total monthly inflows totaling $2 billion — bringing the year-to-date inflow of capital to more than $15 billion.

The lion’s share of weekly inflows came from the United States, accounting for $130 million of last week’s inflows, though the report also noted incumbent issuer outflows of $260 million in the United States.

Weekly inflows were dominated by Bitcoin (BTC), with the decentralized cryptocurrency claiming $148 million in investment flows. Additionally, short Bitcoin funds saw $3.5 million in weekly outflows, bringing the monthly total to $12.5 million in outflows. This may indicate that sentiment among Bitcoin investors remains bullish.

Ether (ETH) saw weekly inflows of $33.5 million for the final week of May and month-to-date inflows of $21.6 million. This represents a reversal in investor sentiment, likely spurred on by the approval of Ether exchange-traded funds (ETFs) in the United States. Previous weeks saw investor sentiment slump among institutional investors, with $200 million in outflows from ETH exchange-traded products.

Flows to funds of Solana’s SOL (SOL) were likewise positive, with inflows for the week ending on May 31, hitting $5.8 million and bringing the monthly total to $24.8 million.

However, multi-asset funds exhibited poor performance in May; weekly outflows of $2.7 million were recorded for the final week, and $12.2 million in monthly outflows from multi-asset funds and products occurred in May.

Related: Crypto exchanges see $3B Ethereum exit since ETF approvals.

Ether ETF approved in the United States

On May 23, 2024, the U.S. Securities and Exchange Commission approved Ether ETFs in the U.S., though Ether exchange-traded products have been available in other territories.

Since that time, more than $3 billion in ETH has been moved from centralized exchanges, suggesting potential supply shock issues for the digital asset in the coming weeks and months as exchange balances drop to lows not seen in years.

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