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, driven by improving sentiment and the emergence of new use cases. The study, which gathered responses from over 500 investment professionals in Japan, found that 31% of participants now have a positive outlook on crypto for the next year, up from 25% in 2024.
Meanwhile, the percentage of respondents with negative sentiments has decreased, indicating a gradual shift in perception as the asset class matures. A key finding is that 65% of respondents view crypto as a vital portfolio diversifier, with 79% of those considering investment planning to do so within the next three years. Most institutions expect to allocate between 2% and 5% of their portfolio to crypto, suggesting that they are still in the early stages of adoption.
This shift is supported by a changing regulatory landscape, with Japan refining its crypto frameworks over the past year, including discussions on classification, taxation, and investor protection. Globally, clearer regulations and the approval of crypto investment products such as ETFs and tokenized assets have reduced uncertainty, prompting institutions to move beyond simple 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, concerns around volatility, counterparty risk, and valuation frameworks continue to hinder adoption. Despite these challenges, the survey suggests that the conversation around crypto is shifting, with institutions now focusing on how to invest in digital assets rather than whether to do so, indicating that crypto is becoming a more mainstream component of institutional portfolios.