The cryptocurrency investment landscape witnessed a remarkable surge in activity during the first week of June, as global asset managers such as Ark Invest, Bitwise, BlackRock, Fidelity, Grayscale, ProShares, and 21Shares reported a substantial influx of capital into their crypto investment products. According to the latest report from CoinShares, these entities collectively attracted net inflows totaling $2 billion, marking the fifth consecutive week of positive investment momentum.

This surge in investor interest translated into a significant milestone, as the total inflows for last week mirrored those recorded for the entire month of May. The cumulative inflows over the past five weeks amounted to an impressive $4.3 billion, propelling assets under management above the $1 billion mark for the first time since March.

CoinShares' Head of Research, James Butterfill, noted that this surge in investor sentiment can be attributed to concerns surrounding weaker-than-expected macroeconomic indicators in the United States. These concerns have led investors to anticipate monetary policy rate cuts, prompting a renewed interest in cryptocurrency investment products as a hedge against traditional market volatility.

In particular, the U.S. market emerged as a stronghold for cryptocurrency investment, with Bitcoin leading the charge. The U.S. spot Bitcoin ETF market experienced a record-breaking streak, with net inflows totaling $1.98 billion. BlackRock's IBIT spot Bitcoin ETF stood out, attracting nearly $1 billion in investments in just one week, surpassing 300,000 BTC in assets under management. This impressive performance propelled the ETF's total assets to over $21 billion, overtaking the assets under management of Grayscale's converted GBTC fund.

Despite the influx of capital into Bitcoin-related products, the cryptocurrency's price remained relatively stagnant. Analysts, such as Nate Geraci, President of The ETF Store, pointed out that this discrepancy between inflows and price action may be attributed to selling pressure from existing bitcoin holders or leveraged traders.

Meanwhile, Ethereum-based investment products experienced a resurgence in investor interest, recording their best week of net inflows since March. This uptick in demand can be attributed to the Securities and Exchange Commission's unexpected decision to permit spot Ethereum ETFs in the United States, providing investors with additional avenues to gain exposure to the digital asset.

As for the market performance, Bitcoin saw a modest increase of 0.5% over the past week, trading at $69,396, according to The Block’s prices page. In contrast, Ether experienced a slight decline of 3.8% over the same period, settling at $3,670. The GMCI 30, a metric representing a selection of the top 30 cryptocurrencies, saw a marginal decrease of 1% during the past week, closing at 141.87.