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- Metaplanet launches sponsored U.S. ADR trading under MPJPY on the OTC market
- New ADR removes custody and compliance barriers for U.S. institutional investors
- Bitcoin-focused strategy lifts Metaplanet into top public corporate BTC holders
Metaplanet Inc., the Japan-based investment firm often called “Asia’s Strategy,” has launched a Sponsored Level I American Depositary Receipt program in the United States. Trading started today in the U.S. over-the-counter market under the ticker MPJPY. The move gives American investors a clearer and more direct way to access Metaplanet shares through familiar market infrastructure.
The ADR program was established with Deutsche Bank Trust Company Americas as a depositary bank. In Japan, MUFG Bank is the custodian of the underlying shares. Under this structure, Metaplanet stock will be traded, settled, and held in accordance with the risk threshold of the U.S. market.
Metaplanet was traded in the U.S. under the OTC ticker of MTPLF. That was unsponsored and not a formal depositary arrangement. It was not taken by many institutional investors because of custodial, compliance, and reporting limitations.
The new Sponsored ADR removes those barriers. Each ADR represents one common share of Metaplanet stock. The company confirmed that the program does not involve a capital raise and does not increase the total number of shares outstanding.
Metaplanet Targets Investor Access, Not Capital Raising
Regulatory filings show the focus is on access rather than financing. Metaplanet designed the structure to fit within institutional investment frameworks. The MPJPY ticker allows U.S. investors to trade the stock in a format similar to domestic equities.
The company is going through a steep growth phase before the launch. However, after changing strategy in 2024, Metaplanet’s share price has increased by approximately 4,800% since then. Retail interest increased, particularly in the international markets.
However, in spite of such demand, U.S. institutions were careful. Most companies were not able to hold the shares owing to internal compliance regulations. The sponsored ADR now covers those limits.
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Simon Gerovich, the Chief Executive Officer, reported that direct investor feedback prompted the move. He explained that the U.S. retail and institutional investors desired easier access to Metaplanet equity. The new building offers a controlled and useful solution.
The transformation of Metaplanet started in April 2024. The firm embraced the use of Bitcoin as the major treasury reserve. The management pointed to fiscal pressures and the long-term weakness of the yen in Japan.
Company Reports 30,823 BTC in Treasury Holdings
Gerovich, a former derivatives trader at Goldman Sachs, spearheaded the shift. The company began buying Bitcoin at a startling pace. This plan transformed the identity of Metaplanet in the international markets.
As of the end of 2025, Metaplanet became the fourth-largest publicly traded corporation to hold Bitcoin. Its reported holdings amounted to 30,823 BTC. That status put the company on the list of the most assertive corporate adopters of the asset.
The company has also provided a long-term accumulation target. By 2027, Metaplanet will have 210,000 BTC. And in this case, that would be approximately 1% of the fixed supply of Bitcoin.
This would put Metaplanet directly in competition with the major international Bitcoin-based companies. It would also enhance its position as a public-market proxy of Bitcoin exposure.
As MPJPY is launched, Metaplanet becomes increasingly interconnected with U.S. capital markets. The ADR launch exposes the company as a regulated entry point for Western investors. It also indicates the desire of Metaplanet to have a greater role in worldwide Bitcoin-associated financing.
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