Summary
- Reuters reported that in May, crypto asset fund holdings hit an all-time high.
- $7.05 billion flowed into 294 crypto asset funds, bringing total assets under management to $167 billion.
- Investors are using digital assets both as a hedge against market volatility and as a means of diversification.
With easing U.S.-China trade tensions boosting investors' risk appetite, crypto asset (cryptocurrency) fund holdings reached record highs in May.
According to Reuters on the 9th (local time), Morningstar data showed that last month, $7.05 billion flowed into 294 crypto asset funds, pushing total assets under management to $167 billion—a record high since last December.
The outlet reported, "Investors' risk appetite is strengthening. Some investors are using digital assets as a hedge against market volatility and as a means of diversification, which is driving inflows into crypto asset funds."
Heecheol Yang
heecheol@bloomingbit.ioHello, I'm a reporter at bloomingbit
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