Nomura and its crypto unit Laser Digital surveyed more than 500 Japan-based investment professionals and found institutions increasingly framing crypto as a portfolio diversifier. The data points to improving sentiment and broader product curiosity, but planned allocations remain modest and timelines extend out to three years.
Key Takeaways
- Nomura and Laser Digital published a Japan-focused survey on April 19, 2026, based on responses from more than 500 investment professionals.
- The share of respondents with a positive 12-month outlook rose to 31% from 25% in 2024, while negative sentiment was described as declining.
- Crypto is being positioned as a diversification sleeve: 65% called it a portfolio diversifier, and most prospective allocators expect 2%–5% weights.
- Interest is widening beyond spot exposure, with more than 60% citing staking, lending, , and tokenized assets, and 63% pointing to stablecoin use cases.
Nomura’s Japan Survey Puts Numbers on Institutional Crypto Appetite
Nomura and its digital- unit Laser Digital released survey results on April 19 based on responses from more than 500 investment professionals in Japan. The headline shift is sentiment improving, not a stampede into risk.
The survey found that 31% of respondents held a positive outlook on crypto over the next year, up from 25% in 2024. It also said negative sentiment declined, but did not quantify the drop. That combination reads like a slow thaw in institutional posture rather than euphoric positioning.
Where the survey gets trade-relevant is how respondents frame the role of crypto. A majority, 65%, said they view crypto as a portfolio diversifier, meaning an intended to reduce overall portfolio risk because it may not move in lockstep with other holdings. Among those considering exposure, 79% said they plan to invest within three years, and most expect allocations between 2% and 5% of portfolio value.
From Spot Exposure to Yield and Structure: Staking, Derivatives, Tokenization
The survey suggests the conversation is moving from “should we own it” to “what expression fits the mandate.” More than 60% of respondents expressed interest in staking, lending, derivatives, and tokenized assets.
For traders, that matters because these are not purely directional spot bets. Staking involves locking crypto to help run a blockchain network and potentially earn rewards. Derivatives are the rails for hedging and structured exposure, which typically show up when institutions want defined risk and cleaner sizing. Tokenized assets, which represent real-world or financial assets as blockchain tokens, point to settlement and product design as much as price.
