A recent Block-Fi report analyzed all institutional activities in the United States, checking funds that have exposure to cryptocurrencies.
There are a total of 40,000 registered investment advisors in the US. Out of these, 10,500 manage private funds which include hedge funds, private equity funds, and venture funds totaling 60,000. However, out of these 60,000 private funds, exactly 201 of them have crypto-exposure, while 51 traditional funds have exposure to crypto as well.
The percentage of private funds with crypto-exposure comes to only 1.3%, which is not a significant portion. However, one must also note that institutional investors dismissed the idea of crypto-investments until 2018. Thus, even a small percentage of 1.3% is a significant number for an asset class which is relatively new.