Digital asset investment products saw outflows for the second consecutive week last week, with investors pulling a total of $72 million, according to the latest Digital Assets Fund Flows Weekly Report from CoinShares.

The company says it believes the outflows are a reaction to the likelihood of further interest rate hikes by the US Federal Reserve.

Bitcoin saw the majority of the outflows totalling $46 million last week, while short-bitcoin also saw its largest outflows since December 2022.

Ether also suffered, seeing outflows totalling $19m last week, its largest week of outflows since the Merge in September 2022.