A growing number of institutional investors are embracing digital assets, driven by improving sentiment and the emergence of new use cases, as indicated by a recent survey conducted by Nomura, a Tokyo-based bank, and its crypto division, Laser Digital. 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. Meanwhile, negative sentiment has decreased, signaling a gradual shift in perception as the asset class matures. 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 portfolios to crypto, typically between 2% and 5%, 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, along 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, 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 remain, including concerns about volatility, counterparty risk, and the lack of established valuation frameworks. Regulatory uncertainty, although improving, has not been fully eliminated.
Nonetheless, the survey suggests that the conversation is shifting, with institutions increasingly focused on how to invest in crypto, rather than debating whether to do so, indicating that digital assets are moving closer to becoming a standard component of institutional portfolios.