Representations of cryptocurrency bitcoin are seen in this illustration picture created in Paris, France, March 9, 2024. REUTERS/Benoit Tessier/Illustration
(Reuters) -Assets held in crypto funds hit a record high in May as easing trade tensions lifted risk appetite and some investors used the digital currencies to hedge against market volatility and diversify from their U.S. holdings.
Morningstar data on 294 crypto funds shows they attracted $7.05 billion in net inflows last month, the highest since December, bringing total assets under management to a record $167 billion.
