Bitcoin remained stable on Wednesday morning in Asia, after briefly surpassing the US$28,000 level on Tuesday night. Ether dropped below US$1,900, while other top 10 non-stablecoin cryptocurrencies traded mixed.

XRP saw gains following legal developments involving the SEC. Meanwhile, concerns over U.S. interest rate hikes and debt issuance continue to limit investor appetite for risk assets.

Outflows from digital asset investment products totaled US$39 million in the week ending May 26, with Bitcoin-linked products accounting for almost a third of those outflows.