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 study, which gathered responses from over 500 investment professionals in Japan, found that 31% of respondents now have a positive outlook on crypto for the upcoming year, up from 25% in 2024, while negative sentiment has decreased, suggesting 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 tool for diversifying their portfolios, with 79% of those considering investment planning to do so within the next three years. Most institutions anticipate allocating a modest portion of their portfolio, typically between 2% and 5%, to crypto, indicating that they are still in the early stages of adoption. This shift is supported by a changing regulatory environment, with Japan's policymakers refining crypto frameworks over the past year, including discussions on classification, taxation, and investor protection.
Globally, clearer regulations in major markets, along with the approval and expansion of crypto investment products, 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, 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 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, which continue to hinder adoption. Despite these challenges, the survey suggests that the conversation around crypto is shifting, with institutions increasingly focused on how to invest in digital assets rather than whether to do so, indicating that digital assets are moving closer to becoming a standard component of institutional portfolios.