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 almost $312 million.

The decrease in investor interest in crypto exchange-traded funds (ETFs) and exchange-traded products (ETPs) is attributed to concerns about rising interest rates. CoinShares stated, “Digital asset investment products saw outflows for the second consecutive week totaling $206 million, with trading volumes in ETPs dipping slightly to $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 that appetite from ETP/ETF investors continues to decline, likely due to expectations that the FED will maintain high interest rates for longer than anticipated.”

Despite the overall outflows, institutional investors in Canada and Switzerland provided inflows of $30 million and $8 million, respectively. Germany, on the other hand, saw minor outflows of $8 million. Negative sentiment towards US ETFs resulted in significant regional outflows of $244 million.

Bitcoin (BTC) bore the brunt of the outflows, losing $192 million. Ethereum (ETH) products experienced outflows for the sixth consecutive week, amounting to $34 million last week. However, certain crypto products managed to attract inflows. Multi-asset investment vehicles, which invest in multiple cryptocurrencies, received $9 million in inflows last week, 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 due diligence before making any high-risk investments in Bitcoin, cryptocurrency, or digital assets. The Daily Hodl, where this article is sourced from, does not recommend buying or selling any cryptocurrencies or digital assets, nor is it an investment advisor.