CoinShares, a digital assets manager, has reported that institutional investments in crypto products experienced outflows for the second consecutive week. According to CoinShares’ Digital Asset Fund Flows report, these products lost $206 million in outflows last week, bringing the total outflows over the past two weeks to nearly $312 million.

CoinShares attributes the decline in investor interest to concerns about rising interest rates. The report states, “Digital asset investment products saw outflows for the second consecutive week totaling $206 million, with trading volumes in ETPs dipping slightly at $18 billion. These volumes represent a lower percentage of total bitcoin volumes (which continue to rise) at 28%, compared to 55% a month ago. The data suggests appetite from ETP/ETF investors continues to wane, likely off the back of expectations that the FED is likely to keep interest rates at these high levels for longer than expected.”

While Canada and Switzerland saw inflows of $30 million and $8 million from institutional investors, respectively, Germany experienced minor outflows of $8 million. Regional outflows of $244 million were driven by negative sentiment towards US ETFs.

Bitcoin (BTC) bore the brunt of the outflows, losing $192 million. Ethereum (ETH) products also saw outflows for the sixth consecutive week, amounting to $34 million last week. However, some crypto products did attract inflows. Multi-asset investment vehicles, which invest in multiple cryptocurrencies, received $9 million in inflows, while Litecoin (LTC) and Chainlink (LINK) attracted $3.2 million and $1.7 million, respectively.

It’s important to note that the opinions expressed in this article are not investment advice, and investors should conduct their own research before making any high-risk investments in Bitcoin, cryptocurrency, or digital assets. The Daily Hodl does not recommend buying or selling any cryptocurrencies or digital assets, and readers should be aware that their transfers and trades are at their own risk.