A new study conducted by Nomura and its digital asset subsidiary, Laser Digital, reveals a notable increase in institutional investors' interest in digital assets. 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 upcoming year, marking a rise from 25% in 2024. Furthermore, negative sentiment has decreased, signifying a gradual shift in perception as the asset class continues to mature. The key theme emerging from the study is the importance of diversification, with 65% of respondents viewing crypto as a vital component of their investment portfolios.
Among those considering investing in crypto, 79% plan to do so within the next three years, with most expecting to allocate between 2% and 5% of their portfolios. This suggests that institutions are still in the early stages of adopting digital assets. The shift in institutional interest is supported by a changing regulatory landscape.
In Japan, policymakers have refined 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 such as ETFs and tokenized assets, have reduced uncertainty and encouraged institutions to participate. As a result, interest in digital assets is expanding beyond simple price exposure. Over 60% of respondents expressed 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. Despite the progress, barriers to adoption remain. Concerns around volatility, counterparty risk, and the lack of established valuation frameworks continue to weigh on investment decisions. While regulatory uncertainty is improving, it has not been entirely eliminated.
Nevertheless, the survey indicates a significant shift in the conversation around digital assets. Rather than debating whether to invest in crypto, institutions are now focused on how to do so, signaling that digital assets are moving closer to becoming a standard component of institutional investment portfolios.