Bitcoin and Domestic Stocks Lead as Top Assets: First Half of 2025 Profit Realization

J-CAM, operator of BitLending and Iolite, conducted a survey targeting current cryptocurrency investors about 'Investment Outcomes and Future Focused Investment Methods and Assets for the First Half of 2025'. The first half of 2025 saw significant changes in the investment environment, such as the depreciation of the yen and soaring stock prices. This period has broadened the awareness of asset protection and growth even among those previously less interested in investing, while also highlighting the challenges in asset selection and risk tolerance. Cryptocurrency investors are grappling with these outcomes and challenges, looking forward to what the second half may bring.

Survey Overview

'Investment Outcomes and Future Focused Investment Methods and Assets for the First Half of 2025' Survey
Survey Period: October 15-16, 2025
Methodology: Internet survey by PRIZMA
Number of Respondents: 1,004
Target: Participants who were investing in cryptocurrencies at the time of the survey
Conducted by: J-CAM, operator of BitLending and Iolite
Provided by: PRIZMA Research

Survey Summary

Most invested asset in the first half of 2025 was 'Bitcoin'. 'Domestic stocks' and 'investment trusts' also saw significant investment, indicating a trend towards diversified portfolios.
Assets that realized profits include 'Bitcoin', 'domestic stocks', and 'investment trusts'.
Reasons for losses include 'sudden market changes' and 'excessive leverage'.
Assets to watch in the second half of 2025 are 'Bitcoin' and 'domestic stocks', both strongly favored.
Assets expected to yield significant profits are also 'Bitcoin' and 'domestic stocks', closely competing.
Most people know of stablecoins only by name, with limited ownership and usage. Understanding varies, and usage is limited.
Concerns about stablecoins include 'issuer reliability', 'price stability', and 'security'.

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Source: J-CAM 'Investment Outcomes and Future Focused Investment Methods and Assets for the First Half of 2025' Survey
URL Link: https://bitlending.jp/crypto-media/investment-trends-2025-h1/

When asked about the assets they invested in from January to June 2025, "Bitcoin (BTC) (87.9%)" was the most common, followed by "domestic stocks (57.2%)" and "investment trusts (active/index) (47.2%)". It appears that many cryptocurrency investors are diversifying their portfolios by combining stocks and investment trusts.

The asset that felt "most profitable" was "Bitcoin (34.8%)", leading the way, followed by "domestic stocks (19.3%)" and "investment trusts (14.7%)". The first half of 2025 saw a significant rise in Bitcoin prices, which boosted overall returns.

Reference: Free responses on particularly profitable securities

【Cryptocurrencies】Bitcoin, Ethereum, XRP, etc.
【Domestic Stocks】Mitsubishi Heavy Industries, Fujikura, Tasuke Electric, SanBio, SoftBank, etc.
【Investment Trusts】All Country, S&P500, TOPIX-linked, etc.

In the realm of cryptocurrencies, many reported gains primarily with major tokens such as Bitcoin, Ethereum, and XRP.

Meanwhile, in domestic stocks, sectors sensitive to economic trends such as energy and telecommunications stood out, with individual stock selection yielding results. In investment trusts, many investors benefited from the global stock rally through index-linked products, indicating a strong trend towards prudent diversified investments.

Behind the rising market, there were also investors who incurred losses. Differences in risk tolerance and information scrutiny divided the outcomes even within the same market.

When asked if there were unexpected losses in assets during the first half of 2025, "No asset loss (44.7%)" was the most common response, followed by "Overall market price decline/volatility (34.4%)" and "Excessive investment amount/leverage (14.9%)".

Many investors suffered losses due to unreliable information, highlighting the challenges of information literacy, such as selecting and establishing criteria for information. In the volatile cryptocurrency market, where short-term price fluctuations are common, building a risk management system and honing information scrutiny skills are becoming increasingly important.
Amid rising market volatility, there is a demand for investment decisions based on rational grounds, unaffected by emotions or rumors.

Second Half of 2025: Focused Interest in the 'Big Two' of Cryptocurrencies and Stocks

For the second half of 2025 (July to December), "Bitcoin (48.0%)" was the most watched asset, followed by "Domestic stocks (42.9%)" and "International stocks (26.6%)". It is evident that investor interest is concentrated on these two axes as cryptocurrencies and stocks emerge as the strong duo.

Investment trusts and precious metals (such as gold and silver) also ranked high, suggesting a rise in asset defense orientation in response to inflation and interest rate trends. Amid increasing overall market uncertainty, there is a widespread movement to reassess asset allocations.

The reasons for selecting highlighted assets were primarily "anticipation of a market upcycle (37.8%)", "high risk-return efficiency (28.6%)", and "ensuring stability through diversified investments (24.8%)". There is a noticeable trend towards long-term asset formation over short-term price movements.

Interest in portfolio management that combines multiple assets is growing, with a focus on optimizing the overall portfolio rather than individual stocks. As the market matures, the investment style of cryptocurrency investors is also evolving steadily.

Understanding of Stablecoins is Polarized, with Only About 30% Holding or Using Them

When asked about their understanding of stablecoins (USDT, USDC, JPYC, DAI, etc.), approximately 40% reported they understand them well or to some extent, while only about 30% actually hold or use them.

The most common response was "aware of them but not holding or using (34.7%)", highlighting a significant polarization in understanding.

Main Concerns: Issuer Reliability, Price Stability, and Security

The primary uses for holding and utilizing stablecoins were "hedging against market volatility risks (47.5%)", "enhancing efficiency of transfers between exchanges (46.3%)", and "acting as a substitute for fiat currency (23.1%)", indicating a preference for practicality and operational utility over speculation.

Stablecoins are increasingly becoming established as functional tools for funds transfer and risk management rather than as investment targets.

When asked about their concerns regarding stablecoins, the most common were "reliability of the issuer and collateral (43.6%)", followed by "price stability (29.0%)" and "security (27.6%)".

There remains a strong voice of concern regarding the transparency of backing assets and the reliability of management structures. The backdrop includes the recognition of price divergence risks in stablecoins due to inadequate collateral following the 2022 Terra/LUNA collapse.

For stablecoins to become widely used as stable means of value transfer, transparent information disclosure, an established auditing system, and international regulatory harmonization are essential.

In this survey, cryptocurrency investors in the first half of 2025 demonstrated a 'mature attitude aimed at controlling risks while targeting profits'.

Bitcoin maintained its lead in profit realization, but the integration with domestic stocks and investment trusts has progressed, confirming that cryptocurrencies are no longer 'isolated high-risk products' but have become established as part of a diversification strategy.

While market volatility and excessive leverage were cited as causes of losses, the fact that over 40% of respondents reported 'no losses' indicates an improvement in investors' risk control abilities.

For the latter half of the year, Bitcoin and domestic stocks were closely matched, with responses emphasizing cycle judgment and the efficiency of risk-return. There is a growing trend towards prioritizing stable, long-term operations over short-term speculation.

As for stablecoins, the variation in understanding remains a challenge. The layer of holders and users remains limited to 30%, and concerns about reliability and price stability have not been dispelled.

However, their practicality as a means of remittance and hedging is recognized, and with regulatory development and increased transparency, there is a high possibility of market establishment.

Overall, the cryptocurrency market in 2025 is transitioning from a 'high-risk, high-return speculative market' to a 'mature market conscious of diversification and stability'.

Going forward, the triad of technology, regulation, and education in building a trust foundation will be key to supporting the full-fledged asset class status of cryptocurrencies.

【For Use in Articles】

When quoting this press release, please adhere to the following.
・Please mention that the source is 'J-CAM'.
・If used on a website, please set the following notation and link as the source. (Link can be embedded within the notation)

Source: J-CAM 'Survey on Investment Results and Future Focused Investment Methods & Assets for the First Half of 2025'
URL Link:https://bitlending.jp/crypto-media/investment-trends-2025-h1/

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