A growing number of institutional investors are embracing digital assets, driven by improving sentiment and the emergence of new use cases, according to a recent survey conducted by Nomura and its crypto-focused arm, Laser Digital. The survey, which gathered responses from over 500 investment professionals in Japan, found that 31% of respondents now hold 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 matures. A key finding is that 65% of respondents consider crypto a vital component for diversifying 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 that they are still in the early stages of adoption. This shift is supported by a changing regulatory landscape, 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, combined 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 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, barriers to adoption remain, including concerns over volatility, counterparty risk, and the lack of established valuation frameworks.
Despite these challenges, the survey suggests that the conversation is shifting from whether to invest in crypto to how to do so, indicating that digital assets are becoming an increasingly important component of institutional portfolios.