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 assets division, 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. Conversely, negative sentiment has declined, indicating a gradual shift in perception as the asset class matures. A key finding is that 65% of respondents view crypto as a vital means of diversifying their portfolios, 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, suggesting they are still in the early stages of adoption. This shift is supported by a changing regulatory landscape.
In Japan, policymakers have spent the past year refining crypto frameworks, including discussions on classification, taxation, and investor protection. Globally, clearer regulations in major markets, coupled with the approval and expansion of crypto investment products such as ETFs and tokenized assets, have reduced some of the uncertainty that previously deterred institutions. 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. This reflects 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. Despite this, challenges persist, including concerns over volatility, counterparty risk, and the lack of established valuation frameworks. Regulatory uncertainty, although improving, has not been fully alleviated.
Nonetheless, the survey indicates a shift in the conversation, with institutions increasingly focused on how to invest in crypto, rather than whether to do so, suggesting that digital assets are moving closer to becoming a standard component of institutional portfolios.