A new study by Nomura and its cryptocurrency arm, Laser Digital, indicates a growing acceptance of digital assets among institutional investors, fueled by enhanced sentiment and a broader range of use cases. The research, which gathered responses from over 500 investment professionals in Japan, shows that 31% of participants now have a positive outlook on 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 evolves. A key finding is that 65% of respondents consider crypto a vital portfolio diversifier, with 79% of those contemplating investment planning to do so within three years.
Most institutions anticipate allocating between 2% and 5% of their portfolio to crypto, indicating 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, along with the approval and expansion of crypto investment products like ETFs and tokenized assets, have reduced uncertainty, encouraging 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, reflecting a growing demand for yield-generating strategies and more complex 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. Despite these challenges, the survey indicates a shift in the conversation, with institutions increasingly focused 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.