Digital asset investment products recorded $1.47 billion in outflows last week. Bitcoin funds drove most of the redemptions amid higher interest rate expectations.
Crypto exchange-traded products saw heavy selling as investors pulled $1.47 billion over the seven days ending May 23. Bitcoin products accounted for the bulk of the decline, with the 11 U.S. spot bitcoin ETFs alone losing $1.26 billion, according to CoinShares data reported by CoinDesk.