A growing number of institutional investors are embracing digital assets, driven by improving sentiment and an expanding range of use cases, according to a new study by Nomura and its digital asset arm, Laser Digital. The survey, which gathered responses from over 500 investment professionals in Japan, found that 31% of respondents now hold a positive outlook on crypto for the next year, up from 25% in 2024. Meanwhile, the decline in negative sentiment suggests a gradual shift in perception as the asset class matures. A key finding is that 65% of respondents view crypto as a vital component of portfolio diversification, with 79% of those considering investment planning to do so within the next three years.
Most institutions anticipate allocating between 2% and 5% of their portfolio to crypto, indicating that they are still in the early stages of adoption. This shift is supported by a changing regulatory landscape, with policymakers in Japan refining crypto frameworks over the past year, including discussions on classification, taxation, and investor protection.
Globally, clearer rules in major markets, as well as the approval and expansion of crypto investment products such as ETFs and tokenized assets, have reduced uncertainty and encouraged institutions to participate. As a result, interest in crypto is expanding beyond simple price exposure, with over 60% of respondents expressing interest in staking, lending, derivatives, and tokenized assets, reflecting a growing demand for yield-generating strategies and more sophisticated portfolio construction. Stablecoins are also gaining traction, with 63% of respondents identifying potential use cases such as treasury management, cross-border payments, and investment in tokenized securities.
However, barriers to adoption remain, including concerns around volatility, counterparty risk, and the lack of established valuation frameworks. Despite these challenges, the survey suggests that the conversation is shifting from whether to invest in crypto to how to do so, indicating that digital assets are becoming an increasingly important component of institutional portfolios.