Digital asset investment products have seen a second week of outflows, with a total of $1.2 billion, according to CoinShares. This is potentially due to investor pessimism around potential Fed interest rate cuts this year. Bitcoin experienced the highest outflows at $630 million. Ethereum also saw outflows of $58 million. However, some altcoins, including Solana, Litecoin, and Polygon, saw inflows of $2.7 million, $1.3 million, and $1 million respectively.

This trend suggests that some investors are using the market downturn as an opportunity to diversify their crypto holdings at lower prices. Trading activity in crypto ETPs reached a low last week, with global volumes reaching only $6.9 billion. The US led the outflows with $475 million, followed by Canada with $109 million. Switzerland and Brazil, however, saw inflows of $39 million and $48.5 million respectively. Despite the overall market pessimism, these figures indicate a continued interest in digital asset investment products, particularly in altcoins.