Nomura research indicates that 65% of institutional investors consider crypto a crucial element for portfolio diversification

A recent survey conducted by Nomura and Laser Digital highlights a positive shift in institutional investor sentiment, as enhanced regulatory frameworks and innovative financial products encourage greater participation in digital assets.

Key Findings:

— 31% of institutional investors now express optimism about crypto, a rise from 25% in 2024.

— 79% of those exploring crypto investments intend to allocate funds within three years, primarily targeting 2%–5% of their portfolios.Institutional investors are increasingly embracing digital assets, with improving sentiment and expanding use cases serving as primary catalysts for adoption, according to a new survey from Tokyo-based Nomura and its crypto division Laser Digital.

The study, which gathered responses from over 500 investment professionals in Japan, reveals that 31% of participants anticipate a favorable outlook for crypto in the coming year, up from 25% in 2024. Concurrently, negative sentiment has decreased, signaling a gradual shift in perception as the asset class matures.

A central theme is diversification. Approximately 65% of respondents view crypto as a portfolio diversifier, while 79% of those considering exposure plan to invest within three years. Most expect relatively modest allocations — typically between 2% and 5% — suggesting institutions are still in the early stages of adoption.

This shift is being supported by a changing regulatory and policy backdrop. In Japan, policymakers have spent the past year refining crypto frameworks, including discussions around classification, taxation and investor protections. Globally, clearer rules in major markets — alongside 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 kept institutions on the sidelines.

As a result, interest is expanding beyond simple price exposure. More than 60% of respondents expressed interest in staking, lending, derivatives and tokenized assets, reflecting growing demand for yield-generating strategies and more sophisticated portfolio construction.

Stablecoins are also gaining traction, with 63% of respondents identifying potential use cases ranging from treasury management to cross-border payments and investment in tokenized securities.

Still, barriers remain. Concerns around volatility, counterparty risk and the lack of established valuation frameworks continue to weigh on adoption. Regulatory uncertainty, while improving, has not fully disappeared.

Even so, the survey suggests the conversation is shifting. Rather than debating whether to invest in crypto, institutions are increasingly focused on how to do so — a sign that digital assets are moving closer to becoming a standard component of institutional portfolios.