A growing number of institutional investors are embracing digital assets, driven by improving sentiment and an expanding range of use cases, according to a recent study by Nomura and its crypto 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 crypto for the next year, up from 25% in 2024, while negative sentiment has decreased, indicating a gradual shift in perception as the asset class becomes more established.
A key finding is that 65% of respondents view crypto as a vital portfolio diversifier, with 79% of those considering investment planning to do so within three years. Most institutions expect to allocate between 2% and 5% of their portfolios to crypto, suggesting that they are still in the early stages of adoption. This shift is supported by a changing regulatory landscape, with Japan's policymakers refining crypto frameworks, including discussions around classification, taxation, and investor protection, and clearer rules in major global markets, as well as the approval and expansion of crypto investment products such as ETFs and tokenized assets, reducing uncertainty and encouraging institutions to invest.
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, including treasury management, cross-border payments, and investment in tokenized securities. While concerns around volatility, counterparty risk, and valuation frameworks remain, 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 a more standard component of institutional portfolios.