Correct, though they aren't really being used as currencies currently. In fact most are failing in that regard or severely lacking in technology to compete with a digital fiat. Right now their appeal is as a digital store of value due to limited supply. Akin to digital gold - at least in regards to bitcoin. Speculation accounts for the large valuations of just about every other coin. Again something you see in assets, not currencies.
Regarding the funds, they specifically mentioned hedge fund in the news release which was why I used it as a reference point as well.
It wasn't so much to argue, but more to point out that $20 billion is a large amount of money for a hedge fund, as you pointed out that puts them in the top 50 (or so) in the entire world.