Nomura has reported a sharp rise in institutional interest in digital assets in Japan, saying clearer regulation and a maturing market are pushing mainstream investors towards defined allocation plans.
The bank’s latest survey, conducted with its digital‑asset arm Laser Digital, gathered responses from more than 500 investment professionals across institutional firms, family offices and public bodies between December 2025 and January 2026. Nomura said 31% of respondents now hold a positive outlook for crypto assets over the next year, up from 25% in 2024, while negative sentiment has fallen to 18%.
The firm said diversification remains the primary driver for potential allocations, with 65% viewing digital assets as a portfolio diversifier. Of those considering exposure, 79% expect to invest within three years, typically between 2% and 5% of their portfolios. Interest is broadening beyond spot crypto, with more than 60% citing demand for staking, lending, derivatives and tokenised assets.
Respondents also identified stablecoins as a potential tool for treasury management, cross‑border payments and investment flows, with the highest trust placed in instruments issued by major financial institutions.
Nomura said barriers remain around fundamental analysis, counterparty risk and volatility, but noted that investor concerns are shifting from existential questions to practical implementation. The firm pointed to product development, improved risk management and regulatory reforms as factors accelerating adoption.
The findings underline Japan’s role as one of the more advanced regulatory environments for digital assets, and signal a move from exploratory sentiment to concrete allocation planning among institutional investors.
