Metaplanet Added to CoinShares Blockchain Global Equity Index

In a significant move for the Japanese investment firm, Metaplanet has been included in CoinShares’ Blockchain Global Equity Index, known as the BLOCK Index, for the first time. This marks Metaplanet’s first inclusion in a globally recognized equity index and highlights the firm’s growing influence in the blockchain and cryptocurrency space.

According to a press release on Nov. 5, Metaplanet’s Representative Director, Simon Gerovich, expressed that the milestone underscores the company’s commitment to enhancing shareholder value, particularly through disciplined Bitcoin (BTC) accumulation. Gerovich also emphasized Metaplanet’s role as Japan’s leading Bitcoin Treasury company.

The BLOCK Index, managed by CoinShares, tracks the performance of 45 publicly traded companies engaged in the cryptocurrency and blockchain industries. Among the prominent companies listed on the index are crypto exchange Coinbase, Bitcoin miner Riot Platforms, and software development giant MicroStrategy. Metaplanet’s inclusion further cements its position as a key player in the digital asset sector.

Metaplanet’s Bitcoin holdings have now surpassed 1,000 BTC, with the latest purchase of 156.7 BTC for approximately $10.4 million bringing its total holdings to 1,018 BTC, valued at over $70 million. The firm’s decision to add to its Bitcoin reserves is part of a broader strategy to hedge against economic challenges in Japan.

The BLOCK Index uses a rigorous selection process, which evaluates companies based on five key criteria: earnings significance, earnings potential, development stage, business competitive positioning, and sustainability. Metaplanet’s estimated starting weight in the index is around 2.5%, according to data from Bloomberg.

In the wake of the announcement, Metaplanet’s shares saw a notable increase, rising 6.20% to 1,695 yen. The company has been on a remarkable growth trajectory, gaining nearly 840% this year alone, making it the best-performing Japanese equity in 2024.

Often referred to as “Asia’s MicroStrategy,” Metaplanet follows the example set by MicroStrategy, the U.S.-based company that holds the largest Bitcoin reserves among publicly traded entities. Metaplanet first began investing in Bitcoin in May 2024 as part of its strategy to mitigate Japan’s economic challenges, and it continues to grow its Bitcoin holdings as part of a broader vision for long-term financial stability.