Metaplanet Secures Spot in CoinShares Blockchain Global Equity Index

Japanese venture capital firm, Metaplanet, has joined the CoinShares Blockchain Global Equity Index (BLOCK Index), in a landmark move to solidify its position as a leading bitcoin treasury company in Japan.

The BLOCK Index, managed by the largest digital asset investment firm in Europe, CoinShares, is a prominent benchmark that tracks the top publicly traded companies in blockchain and crypto. It offers investors diversified exposure to businesses driving the development and implementation of blockchain technology.

First Global Listing

Metaplanet’s CEO, Simon Gerovich, announced the firm’s first inclusion in the globally recognized equity index in an X post on Tuesday. Metaplanet intends to leverage this listing to solidify its standing in the Asian crypto market and attract international investors looking to tap into the fast-growing market.

Thrilled to announce Metaplanet’s inclusion in the CoinShares Blockchain Global Equity Index (BLOCK Index), marking its first appearance in a globally recognized equity index.

Companies included in the index:https://t.co/YzJ6vEehbS https://t.co/xcQfQixTUL

— Simon Gerovich (@gerovich) November 5, 2024

Per a recent filing, the firm’s addition to the index reflects its commitment to enhancing shareholder value through strategic bitcoin accumulation and positions it as a leading Japanese digital asset firm.

With an estimated starting weight of approximately 2.5%, Metaplanet joins a select group of 45 industry leaders, including MicroStrategy, SBI Holdings, Galaxy Digital Holdings, and Coinbase. The BLOCK Index employs a stringent blockchain scoring methodology in its selection process, assessing companies based on “earnings significance, earnings potential, development stage, business competitive positioning, and business sustainability.”

According to data from Google Finance, the company’s stock is up 6.2% following the announcement, trading at 1,695 JPY ($11.13) at press time.

Metaplanet’s Bitcoin Strategy

The Japanese firm’s entrance into the BLOCK Index comes on the heels of its aggressive bitcoin acquisition strategy. Since Metaplanet announced that it would adopt bitcoin as a primary reserve asset, the company has made several bitcoin purchases.

This year alone, Metaplanet has accumulated over 1,100 BTC valued at approximately $69 million, including a recent $10.4 million bitcoin purchase. The company’s bitcoin strategy mirrors that of MicroStrategy, the world’s largest corporate holder of bitcoin, which has earned it the nickname “Asia’s MicroStrategy.”

Metaplanet’s decision to add bitcoin to its treasury was in response to Japan’s economic woes, which have significantly weakened the yen. By adopting bitcoin, the firm seeks to reduce its exposure to the yen and leverage the digital asset as a store of value.