A new survey conducted by Nomura, a Tokyo-based bank, and its cryptocurrency division, Laser Digital, shows that institutional investors are increasingly embracing digital assets. The survey, which gathered responses from over 500 investment professionals in Japan, found that 31% of respondents now have a positive outlook on cryptocurrency for the upcoming year, marking an increase from 25% in 2024.
Conversely, negative sentiment has decreased, signifying a gradual shift in perception as the asset class continues to mature. A key finding is that 65% of respondents view cryptocurrency as a means of diversifying their portfolios, while 79% of those considering investment plan to do so within the next three years.
Most institutions anticipate allocating a modest 2% to 5% of their portfolios to cryptocurrency, indicating that they are still in the early stages of adoption. This shift is supported by evolving regulatory and policy frameworks.
In Japan, policymakers have been refining cryptocurrency regulations over the past year, including discussions on classification, taxation, and investor protection. Globally, the establishment of clearer rules in major markets, along with the approval and expansion of cryptocurrency investment products such as exchange-traded funds (ETFs) and tokenized assets, has reduced some of the uncertainty that previously deterred institutions. As a result, interest in cryptocurrency is expanding beyond mere price exposure.
Over 60% of respondents expressed interest in staking, lending, derivatives, and tokenized assets, reflecting 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, barriers to adoption remain, including concerns over volatility, counterparty risk, and the lack of established valuation frameworks. Regulatory uncertainty, although improving, has not been completely eliminated.
Nevertheless, the survey suggests that the conversation around cryptocurrency is shifting. Instead of debating whether to invest in cryptocurrency, institutions are now focusing on how to do so, indicating that digital assets are becoming an increasingly standard component of institutional portfolios.