A new survey from Nomura and its digital asset arm, Laser Digital, indicates a significant shift in sentiment among institutional investors, who are increasingly embracing digital assets due to improving sentiment and expanding 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, marking a 6% increase from 2024.
Conversely, negative sentiment has decreased, signifying a gradual change in perception as the asset class continues to mature. A key finding is that 65% of respondents view crypto as a vital diversification tool 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 portfolio to crypto, indicating they are still in the early stages of adoption. This shift is supported by evolving regulatory and policy frameworks.
In Japan, policymakers have refined crypto regulations 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 like ETFs and tokenized assets, have reduced uncertainty and encouraged institutional engagement. As a result, interest in crypto extends 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 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. Despite these challenges, the survey indicates a shift in the conversation, with institutions now focusing on how to invest in crypto rather than whether to do so, suggesting that digital assets are becoming a more integral part of institutional portfolios.