A global survey found that over 50 per cent of hedge-fund managers held cryptocurrency positions in 2025, even after the sector’s steep correction from its earlier peak. According to the survey, managers are shifting allocation toward liquid large-cap tokens while scaling back smaller-cap altcoin exposure amid increased regulatory and market-risk awareness. While exposures remain meaningful, portfolio turnover has risen as funds re-weight relative-risk levels and await clearer institutional flows and policy clarity in major jurisdictions. The findings indicate deeper institutional interest in digital assets, despite near-term headwinds.