Nomura survey: 65% of institutional investors see crypto as a diversification tool
Institutional interest in digital assets is building, fueled by improving sentiment and an expanding set of real-world use cases, according to a new survey by Tokyo-based Nomura and its crypto arm Laser Digital.
The study polled more than 500 investment professionals in Japan and found that 31% now expect crypto to perform positively over the next year, up from 25% in 2024. At the same time, negative views have eased, pointing to a gradual reassessment as the asset class matures.
Diversification remains the primary appeal. About 65% of respondents said they view crypto as a portfolio diversifier. Among those considering an allocation, 79% plan to invest within the next three years. Most anticipate relatively small positions—typically 2% to 5% of a portfolio—suggesting adoption is still in its early phases.
Regulation is also shaping the shift. In Japan, policymakers have spent the past year refining crypto rules, including debates over classification, taxation and investor protections. Globally, clearer guidance in major markets, along with the approval and expansion of crypto investment products such as exchange-traded funds (ETFs) and tokenized assets, has reduced some of the uncertainty that previously kept institutions on the sidelines.
Interest is increasingly moving beyond pure price exposure. More than 60% of respondents reported interest in staking, lending, derivatives and tokenized assets, signaling rising demand for yield-oriented strategies and more advanced portfolio construction. Stablecoins are gaining attention as well, with 63% citing potential applications spanning treasury management, cross-border payments and investment in tokenized securities.
Key obstacles persist. Volatility, counterparty risk and the absence of widely accepted valuation frameworks continue to weigh on adoption. While regulatory uncertainty is easing, it has not fully disappeared.
Even so, the survey suggests the institutional debate is evolving. The focus is shifting from whether to invest in crypto to how to do it—an indication that digital assets are moving closer to becoming a standard component of institutional portfolios.
