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The cryptocurrency investment products market started June on a relatively positive note, with inflows recording $2 billion in the first week of the month, extending a five-week run to $4.3 billion.

Trading volume in exchange-traded products (ETPs) hit $12.8 billion for the week monitored, up 55% from the previous week, CoinShare’s June 10 “Digital Asset Fund Flows Weekly Report” shows.

Bitcoin (BTC) inflows hit $1.97 billion during that period, while short BTC saw outflows for the third week in a row, totaling $5.3 million. Ether (ETH) recorded its best week of inflows since March to $69 million. The report noted that the feat was “likely in reaction to the surprise SEC decision to allow spot-base [exchange-traded funds].”

Meanwhile, investment products of altcoins outside of Ether saw minor activity. Yet, Fantom (FTM) and Ripple’s XRP (XRP) witnessed significant movements, seeing inflows of $1.4 million and $1.2 million, respectively.

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CoinShares observed that the inflows were seen across almost all ETP providers, noting the continued slowdown in outflows from incumbents. The asset manager deduced that the pattern may be in response to weaker macro data in the United States:

“We believe this turn around in sentiment is a direct response to weaker than expected macro data in the US, bringing forward monetary policy rate cut expectations. Positive price action saw total assets under management (AuM) rise above the US$100bn mark for the first time since March this year.”

While the majority of ETP providers experienced inflows during the tracked week, Grayscale Investments and CoinShares XBT recorded outflows for the same period.