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 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 matures. A key finding is that 65% of respondents view crypto 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 crypto, indicating that they are still in the early stages of adoption. 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, along with the approval and expansion of crypto investment products like exchange-traded funds (ETFs) and tokenized assets, have reduced uncertainty and encouraged institutions to participate. As a result, interest in crypto extends 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 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. Although regulatory uncertainty is improving, it has not been completely alleviated.
Nonetheless, the survey indicates a shift in the conversation, with institutions focusing on how to invest in crypto rather than whether to do so, suggesting that digital assets are moving closer to becoming a standard component of institutional portfolios.