A new survey conducted by Nomura and its digital assets division, Laser Digital, shows that institutional investors are becoming increasingly receptive to digital assets. The study, which gathered responses from over 500 investment professionals in Japan, found that 31% of participants now hold a positive view of crypto for the upcoming year, up from 25% in 2024.
Meanwhile, the number of respondents with negative sentiments has decreased, suggesting a gradual shift in perception as the asset class continues to mature. A significant aspect of this shift is the role of diversification, with 65% of respondents viewing crypto as a means to diversify their portfolios, and 79% of those considering investment planning to do so within the next three years. Most institutions anticipate allocating between 2% and 5% of their portfolios to crypto, indicating that they are still in the early stages of adoption.
This growing interest is supported by a changing regulatory landscape. In Japan, policymakers have been refining 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 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.
This reflects a growing demand for yield-generating strategies and more sophisticated portfolio construction. Stablecoins are also gaining popularity, 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. While regulatory uncertainty is improving, it has not been completely eliminated. Nonetheless, the survey suggests that the focus of the conversation is shifting, from debating whether to invest in crypto to discussing how to do so, indicating that digital assets are moving closer to becoming a standard component of institutional portfolios.