A new study conducted by Nomura and its digital assets division, Laser Digital, indicates that institutional investors are increasingly embracing digital assets, driven by improving sentiment and the emergence of new use cases. The survey, which gathered responses from over 500 investment professionals in Japan, found that 31% of respondents now have a positive outlook on crypto for the next year, up from 25% in 2024, while negative sentiment has decreased, suggesting a gradual shift in perception as the asset class matures.
A key finding is that 65% of respondents view crypto as a means to diversify their portfolios, with 79% of those planning to invest expecting 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 a changing regulatory landscape, with Japan having refined its 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 uncertainty and encouraged institutional investment. 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, reflecting 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, concerns around volatility, counterparty risk, and the lack of established valuation frameworks continue to hinder adoption, and regulatory uncertainty, although improving, still exists.
Nevertheless, the survey suggests that the conversation around crypto is shifting, with institutions increasingly focused on how to invest in digital assets, indicating that they are moving closer to becoming a standard component of institutional portfolios.