Posted by Colin Lambert. Last updated: April 20, 2026
A new survey from Nomura and its digital asset subsidiary Laser Digital finds that Japanese investors are warming to the concept of cryptoasset investing and that concerns are shifting from the longevity of the asset class to more practical issues around investing.
The 2026 Institutional Investor Survey on Digital Asset Investment Trends was conducted online from December 16, 2025, to January 29, 2026 and follows the previous survey in June 2024. In total, Nomura says 518 investment professionals in Japan participated, including institutional investors, family offices, and public-interest organisations.
The headline finding is an improved sentiment toward crypto assets, with 31% of respondents describing their outlook on crypto assets over the next year as positive, up six percentage points from June 2024. Meanwhile, the percentage of respondents with a negative outlook fell to 18%, down five points from the previous survey, indicating an overall improvement in sentiment toward crypto assets.
Equally, 65% of respondents said they view crypto assets as an opportunity to diversify their portfolios, up three points from the previous survey. Among those considering investing in crypto assets over the next three years, 79% said they have plans to invest. Of these, 60% expect to allocate between 2 and 5% of their portfolios.
The primary reason respondents gave for investing in crypto assets was diversification. Many also said they value the low correlation of crypto assets with other asset classes, showing growing recognition of their role in portfolio diversification.
The survey also showed growing interest in various digital asset segments, with more than 60% of respondents expressing interest in staking/mining (66%), lending/collateralised loans (65%), derivatives (63%), and tokenised assets (65%). Nomura says this reflects growing demand for income-generating and asset-utilisation strategies.
A more obvious finding was that 63% of respondents identified potential use cases for stablecoins, including treasury management, cross-border payments/FX transactions, crypto asset investment, and investment in tokenised securities. Across JPY, USD, and EUR, stablecoins issued by major financial institutions received the highest level of trust.
The survey confirmed that several barriers to crypto asset investment remain, however. The main challenges include the lack of established frameworks for fundamental analysis; counterparty risks such as default, fraud, and asset loss; high volatility; and regulatory uncertainty. At the same time, Nomura says adoption is accelerating due to the development of a diverse range of investment products, improvements in risk management practices, regulatory reforms, and increased participation by financial and non-financial players.
“Overall, the survey results show stronger sentiment and growing interest in digital assets as an investment asset class, and they also suggest that investor concerns are shifting to more practical issues around investing,” the bank concludes.