Odaily News Assets held by crypto funds hit an all-time high in May. Morningstar data on 294 crypto funds showed they attracted $7.05 billion in net inflows last month, the most since December, bringing total assets under management to a record $167 billion. In contrast to crypto funds, Lipper data showed global stock funds saw net outflows of $5.9 billion in May, while gold funds saw their first net outflow in 15 months, at $678 million.
Analysts pointed out that investors are viewing cryptocurrencies as part of a diversified portfolio rather than just high-risk assets. Market concerns about the outlook for U.S. investments and expectations of a weaker dollar have driven capital flows into cryptocurrencies. (Reuters)