According to a new survey conducted by Nomura and its digital assets arm, Laser Digital, institutional investors are increasingly embracing digital assets, driven by improving sentiment and the emergence of new use cases. The study, which gathered responses from over 500 investment professionals in Japan, indicates that 31% of respondents now have a positive outlook on crypto for the next year, marking an increase from 25% in 2024. Meanwhile, the decline in negative sentiment suggests a gradual shift in perception as the asset class continues to mature. A key finding is that 65% of respondents view crypto as a vital diversifier for 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 portfolios to crypto, indicating that they are still in the early stages of adoption. This shift is supported by evolving regulatory and policy frameworks. In Japan, policymakers have spent the past year refining crypto regulations, including discussions on classification, taxation, and investor protection.
Globally, clearer rules in major markets, coupled with the approval and expansion of crypto investment products such as ETFs and tokenized assets, have reduced uncertainty and encouraged institutional engagement. As a result, interest in crypto is expanding beyond mere 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.
However, barriers to adoption persist, including concerns over volatility, counterparty risk, and the lack of established valuation frameworks. Regulatory uncertainty, although improving, has not been completely eliminated. Nevertheless, the survey suggests a significant shift in the conversation, with institutions now focusing on how to invest in crypto rather than whether to do so, indicating that digital assets are moving closer to becoming a standard component of institutional portfolios.