I see your point. I've advised my aging parents not to get into crypto as it's a gamble that could see them go poor into retirement. On one hand, one could argue that these funds are "hedging" as they see bonds not as safe as they once were, but my cynical side tells me it's likely they're playing catch up on an exploding instrument and are FOMOing into it, possibly from own customer demand. It really depends on the fund itself, I've seen plenty of tech funds that are absolute degenerates on the shit they're buying so I see no difference here in that case.
Well, something tells me the top is very near. Those type of funds traditionally stood far away from certain risks no matter the returns. For example, a bond fund was a bond fund was a bond fund. No matter how much stock xyz returned, the fund would not change its mandate. Now, too many of those guys chase crazily risky investments, regardless of whether the relative aum is tiny or huge. It's 2000 all over again.
Hmmmnnnn, these are being planned to be used for purchase of bitcoin https://dc.citybizlist.com/article/...ion-offering-of-0750-convertible-senior-notes