Tokyo, April 16, 2026 — Nomura Holdings, Inc. (Nomura) and its digital asset subsidiary, Laser Digital Holdings AG, today announced the publication of the 2026 Institutional Investor Survey on Digital Asset Investment Trends.
Since the previous survey in June 2024, the environment for crypto assets has changed significantly. In Japan, progress has been made in developing a regulatory framework, including through discussions by the Financial System Council’s Working Group on Crypto–asset Systems toward the end of 2025.
In light of these changes, the survey was conducted to better understand investment trends and attitudes toward digital assets among institutional investors in Japan, as well as the key challenges they face when considering investments in crypto assets.
Overview of Survey Results
The survey was conducted online from December 16, 2025, to January 29, 2026. In total, 518 investment professionals in Japan participated, including institutional investors, family offices, and public–interest organizations. The following are some of the key findings.
・ Improved sentiment toward crypto assets: Thirty–one percent of respondents described their outlook on crypto assets over the next year as positive, up 6 percentage points from 25% in the previous survey. Meanwhile, the percentage of respondents with a negative outlook fell to 18%, down 5 points from 23%, indicating an overall improvement in sentiment toward crypto assets.
・ Crypto assets increasingly seen as a diversification tool: Sixty–five percent of respondents said they view crypto assets as an opportunity to diversify their portfolios, up 3 percentage points from 62% in 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 2% to less than 5% of their portfolios.
・ Diversification; the main investment rationale: 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.
・ Growing interest in a wide range of digital asset products: The survey showed growing interest in various digital asset segments, with more than 60% of respondents expressing interest in staking/mining (66%), lending/collateralized loans (65%), derivatives (63%), and tokenized assets (65%). This reflects growing demand for income–generating and asset–utilization strategies.
・ Stablecoins seen as having potential use cases: Sixty–three percent of respondents identified potential use cases for stablecoins, including treasury management, cross–border payments/FX transactions, crypto asset investment, and investment in tokenized securities. Across JPY, USD, and EUR, stablecoins issued by major financial institutions received the highest level of trust.
・ Barriers remain, but focus shifting to accelerating adoption: The survey confirmed that several barriers to crypto asset investment remain. 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, 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.
・ Survey (English Translation)
About Nomura Holdings, Inc.
Nomura is a financial services group with an integrated global network. By connecting markets East & West, Nomura services the needs of individuals, institutions, corporates and governments through its four business divisions: Wealth Management, Investment Management, Wholesale (Global Markets and Investment Banking), and Banking. Founded in 1925, the firm is built on a tradition of disciplined entrepreneurship, serving clients with creative solutions and considered thought leadership.
・ For further information about Nomura, visit www.nomura.com .
About Laser Digital Japan
Laser Digital Japan is a subsidiary of Laser Digital, a full-service digital asset firm specializing in Trading, Asset Management, Solutions, and Early-Stage Investing. Nomura established Laser Digital to provide new value in digital assets to its clients, bridging traditional and crypto markets.
Laser Digital Japan provides operational services to the broader Laser Digital group.
・ For more information: www.laserdigital.com/japan
・ For inquiries: Contact Us