Data: Crypto fund asset management reached $167 billion in May, a record high

Crypto fund holdings hit an all-time high in May. Morningstar data on 294 crypto funds showed that these funds attracted a net inflow of $7.05 billion last month, the highest level since December, bringing total assets under management to a record $167 billion. In contrast to crypto funds, Lipper data showed that global equity funds saw a net outflow of $5.90 billion in May, while gold funds saw their first net outflow in 15 months, amounting to $678 million.
Analysts have pointed out that investors are viewing cryptocurrencies as part of a diversified portfolio, rather than just a risky asset. Concerns about the future of US investment and expectations of a weaker dollar have driven funds into cryptocurrencies.