A growing number of institutional investors are embracing digital assets, driven by improving sentiment and the emergence of new use cases, according to a recent study by Nomura and its digital asset subsidiary, Laser Digital. The survey, which gathered responses from over 500 investment professionals in Japan, found that 31% of respondents now have a positive outlook on cryptocurrency over the next year, up from 25% in 2024.
Meanwhile, negative sentiment has decreased, indicating a gradual shift in perception as the asset class matures. A key finding is that 65% of respondents view cryptocurrency as a vital tool for diversifying their portfolios, with 79% of those considering investment planning to do so within the next three years.
Most institutions expect to allocate between 2% and 5% of their portfolio to cryptocurrency, suggesting that they are still in the early stages of adoption. This shift is being driven by a changing regulatory environment, with policymakers in Japan refining cryptocurrency frameworks over the past year. Globally, clearer regulations and the approval of cryptocurrency investment products such as exchange-traded funds (ETFs) have reduced uncertainty and encouraged institutions to invest. As a result, interest in cryptocurrency is expanding beyond simple price exposure, with over 60% of respondents expressing interest in staking, lending, derivatives, and tokenized assets.
Stablecoins are also gaining popularity, 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 over volatility, counterparty risk, and the lack of established valuation frameworks. Despite these challenges, the survey suggests that the conversation around cryptocurrency is shifting, with institutions increasingly focused on how to invest in digital assets rather than whether to do so, indicating that cryptocurrency is becoming a more mainstream component of institutional portfolios.