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 cryptocurrency division, Laser Digital. The survey, which gathered responses from over 500 investment professionals in Japan, found that 31% of respondents now have a positive outlook on cryptocurrency over the next year, marking an increase from 25% in 2024. Meanwhile, the decline in negative sentiment suggests a gradual change in perception as the asset class continues to mature. A key finding is that 65% of respondents view cryptocurrency as 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 portfolios to cryptocurrency, indicating that they are still in the early stages of adoption. This shift is supported by a changing regulatory environment. In Japan, policymakers have spent the past year refining cryptocurrency frameworks, including discussions on classification, taxation, and investor protection. Globally, clearer regulations in major markets, along with the approval and expansion of cryptocurrency investment products such as exchange-traded funds (ETFs) and tokenized assets, have reduced some of the uncertainty that previously deterred institutions.
As a result, interest in cryptocurrency 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 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 around cryptocurrency is shifting, with institutions increasingly focused on how to invest in digital assets, rather than whether to do so, indicating that cryptocurrency is moving closer to becoming a standard component of institutional portfolios.