A new survey conducted by Nomura, a Tokyo-based bank, and its crypto subsidiary Laser Digital, indicates that institutional investors are becoming increasingly embracing of digital assets. The study, 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. Meanwhile, the percentage of respondents with negative views has decreased, signaling a gradual shift in perception as the asset class continues to mature.
A key finding is the importance of diversification, with 65% of respondents considering crypto a vital component of their portfolio diversification strategy. Furthermore, 79% of those planning to invest in crypto intend to do so within the next three years, with most expecting to allocate between 2% and 5% of their portfolio to digital assets, suggesting that institutions are still in the early stages of adoption. This shift is supported by a changing regulatory landscape.
In Japan, policymakers have been refining crypto frameworks over the past year, including discussions on classification, taxation, and investor protection. Globally, clearer regulations in major markets, combined with the approval and expansion of crypto 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 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, challenges persist, including concerns around volatility, counterparty risk, and the lack of established valuation frameworks, which continue to hinder adoption.
Regulatory uncertainty, although improving, has not been completely eliminated. Nevertheless, the survey suggests a shift in the conversation, with institutions no longer debating whether to invest in crypto, but rather focusing on how to do so, indicating that digital assets are moving closer to becoming a standard component of institutional portfolios.