Institutional investors are increasingly embracing digital assets, driven by improving sentiment and the emergence of new use cases, according to a recent survey conducted by Nomura and its digital assets division, Laser Digital. The survey, which gathered responses from over 500 investment professionals in Japan, found that 31% of respondents now hold a positive view of crypto for the upcoming year, up from 25% in 2024. Meanwhile, the decline in negative sentiment suggests a gradual shift in perception as the asset class continues to mature.
A key theme emerging from the study is the role of crypto in portfolio diversification, with 65% of respondents viewing it as a vital component. Moreover, 79% of those considering investment in crypto plan to do so within the next three years, with most expecting to allocate between 2% and 5% of their portfolio. This shift is supported by evolving regulatory frameworks and policies. 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 and the approval of crypto investment products such as ETFs and tokenized assets have reduced uncertainty, encouraging institutions to participate. As a result, interest in crypto is expanding beyond mere price exposure, with over 60% of respondents expressing interest in staking, lending, derivatives, and tokenized assets. This reflects a growing demand for yield-generating strategies and more complex portfolio construction. Stablecoins are also gaining traction, with 63% of respondents identifying potential use cases in treasury management, cross-border payments, and investment in tokenized securities.
However, barriers to adoption persist, including concerns over volatility, counterparty risk, and the lack of established valuation frameworks. Regulatory uncertainty, although improving, has not been entirely eliminated. Nonetheless, the survey indicates a shift in the conversation, from debating the merits of investing in crypto to discussing how to invest in it, signaling that digital assets are moving closer to becoming a standard component of institutional investment portfolios.