Crypto demand is rising in Japan, with 54% of investment managers planning to invest in digital assets over the next three years, according to a Nomura survey. The survey, conducted by Nomura and its subsidiary Laser Digital, found that 25% of managers have a positive view of crypto, with 62% seeing it as a diversification opportunity. The average preferred allocation is 2-5%. Product development, including ETFs, investment trusts, staking, and lending, is a key driver for future investments. Half of the respondents also expressed interest in investing in Web3 projects. Barriers to entry for those not considering crypto investments include counterparty risk, high volatility, and regulatory requirements. The survey included over 500 investment managers, institutional investors, family offices, and public-service corporations.