Key Takeaways
- • 54% of 547 Japanese investment managers surveyed by Nomura and its digital asset subsidiary Laser Digital said they intend to invest in crypto within the next three years.
- • Only 25% of respondents reported a positive impression of digital assets, indicating that intent outpaces sentiment.
- • Preferred crypto allocations fall between 2% and 5% of assets under management, with nearly 80% of respondents expecting to invest within a year.
- • New products, including ETFs, investment trusts, and staking and lending offerings, are the main driver of future investment cited by respondents.
- • Counterparty risk, high volatility, and regulatory requirements remain the primary barriers preventing some managers from entering the asset class.
Summary
A majority of Japanese investment managers plan to invest in digital assets within the next three years, according to a survey conducted by Nomura and its digital asset subsidiary Laser Digital. The survey found that 54% of respondents intended to invest in crypto over that period, while 25% said they held a positive impression of digital assets. The research polled 547 Japanese investment managers between April 15 and April 26, including institutional investors, family offices, and public-service corporations.
Respondents largely framed crypto as a portfolio diversification tool. According to the study, 62% of those surveyed viewed digital assets as a diversification opportunity alongside cash, stocks, bonds, and commodities, and many considered digital assets a standard investment asset class. The preferred allocation was between 2% and 5% of assets under management, and nearly 80% said they would invest within a year.
Product development emerged as the principal catalyst for future allocations. For investors already involved in cryptocurrencies or actively weighing entry, the main driver was the availability of new vehicles, including exchange-traded funds, investment trusts, and staking and lending products. About half of respondents said they would prefer to invest directly in Web3 projects or through venture capital funds.
Barriers to entry continue to restrain some managers. The study identified counterparty risk, high volatility, and regulatory requirements as the main obstacles. The results suggest that institutional interest in Japan is advancing, although the gap between the 54% intending to invest and the 25% holding a positive view of the asset class indicates that adoption will depend on product structure and risk mitigation.
Respondents largely framed crypto as a portfolio diversification tool. According to the study, 62% of those surveyed viewed digital assets as a diversification opportunity alongside cash, stocks, bonds, and commodities, and many considered digital assets a standard investment asset class. The preferred allocation was between 2% and 5% of assets under management, and nearly 80% said they would invest within a year.
Product development emerged as the principal catalyst for future allocations. For investors already involved in cryptocurrencies or actively weighing entry, the main driver was the availability of new vehicles, including exchange-traded funds, investment trusts, and staking and lending products. About half of respondents said they would prefer to invest directly in Web3 projects or through venture capital funds.
Barriers to entry continue to restrain some managers. The study identified counterparty risk, high volatility, and regulatory requirements as the main obstacles. The results suggest that institutional interest in Japan is advancing, although the gap between the 54% intending to invest and the 25% holding a positive view of the asset class indicates that adoption will depend on product structure and risk mitigation.
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