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The inflow of funds into crypto funds hit a record in May.
According to Reuters, the assets under management of cryptocurrency funds reached a record level of 167 billion USD in May, thanks to a net inflow of 7.05 billion USD into 294 funds, the highest since December 2023. The main driver is the risk hedging sentiment and diversification away from American assets amid economic instability.
Bitcoin has increased by more than 15% in the past 3 months, outperforming gold (+13.3%) and the MSCI World index (+3.6%). The CEO of Aether Holdings states that Bitcoin is returning to its position as a hedge asset. Confidence in the American economy is declining, which helps reinforce Bitcoin's position.
Bitcoin funds attracted 5.5 billion USD, while Ethereum pulled in an additional 890 million USD. In contrast, global equity funds saw a net outflow of 5.9 billion USD, and gold funds recorded their first negative cash flow in 15 months with a level of 678 million USD.