According to the latest report from CoinShares, $224 million flowed into crypto investment products between May 31 and June 6. This is significantly less than the previous week, when the inflow amounted to $321 million. Despite the slowdown, the total volume of inflows over the past seven weeks has reached $11 billion.
Ethereum became the leader of the past week, with funds focused on this asset attracting $295.4 million. In contrast, Bitcoin showed an outflow of investments in the amount of $56 million. Thus, Ethereum is confidently strengthening its position in the institutional segment, while interest in products based on digital gold continues to decline.
The US spot Bitcoin ETF market has been negative for the second week in a row. As a result, Ethereum's share in total assets under management of crypto funds increased to 10.5%, with the total industry volume of $175 billion.
Altcoins, with the exception of individual examples, generally did not show significant activity. For example, funds based on Solana and XRP lost $2.1 million and $4 million, respectively. At the same time, Sui showed moderate growth, attracting $1.1 million, and Chainlink - $0.2 million.
CoinShares experts attribute the general decline in interest in cryptocurrency investments to uncertainty against the backdrop of the current US monetary policy. Investors have adopted a wait-and-see attitude ahead of new statements from the Federal Reserve on inflation expectations.
At the same time, according to Nick Forster, founder of Derive, Bitcoin is now in a phase of temporary stabilization, which may precede a new upward trend. Bernstein analysts also note that institutional purchases remain a key factor supporting the potential for further growth of the first cryptocurrency.
Thus, the market is demonstrating a reorientation of institutional interests towards Ethereum, while Bitcoin is experiencing a temporary decline in demand. The fate of cryptocurrency funds in the coming weeks will most likely depend on macroeconomic signals from the United States and the behavior of major players in the market.