A new survey conducted by Nomura and its digital assets arm, Laser Digital, indicates a growing acceptance of digital assets among institutional investors, driven by improving sentiment and the emergence of new use cases. The survey, which gathered responses from over 500 investment professionals in Japan, found that 31% of respondents now hold a positive view of crypto for the upcoming year, up from 25% in 2024, while negative sentiment has decreased, signifying a gradual shift in perception as the asset class matures. A key theme emerging from the study is the role of crypto in portfolio diversification, with 65% of respondents viewing it as a vital component, and 79% of those considering investment planning to do so within the next three years.
Most institutions anticipate allocating between 2% and 5% of their portfolios to crypto, indicating that they are still in the early stages of adoption. This shift is supported by evolving regulatory and policy frameworks, both in Japan and globally, including the development of clearer rules and the expansion of crypto investment products such as ETFs and tokenized assets.
As a result, institutions are looking beyond simple exposure to crypto prices, with over 60% expressing interest in more complex strategies like staking, lending, derivatives, and tokenized assets, reflecting a growing demand for yield-generating strategies and more sophisticated portfolio management. 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, challenges persist, including concerns over volatility, counterparty risk, and the lack of established valuation frameworks, as well as residual regulatory uncertainty. Nonetheless, the survey indicates a shift in the conversation among institutions, from whether to invest in crypto to how to do so, suggesting that digital assets are becoming increasingly integrated into institutional portfolios.