Metaplanet Joins CoinShares’ Blockchain Equity Index in First Global Listing

Japan’s publicly-listed early-stage investment firm Metaplanet Inc. announced its inclusion in the CoinShares Blockchain Global Equity Index (BLOCK Index), a globally recognized benchmark tracking the top public companies in blockchain and crypto.

The inclusion in the CoinShares BLOCK Index marks Metaplanet’s debut in a high-profile blockchain equity index, the company’s CEO, Simon Gerovich, announced Monday.

Aligning with its stated mission “to lead in the digital finance era,”  Metaplanet is attempting to strengthen its international profile as well as its standing in the Asian crypto industry as it aims to attract more investors looking to tap into the region’s expanding market.

With its inclusion in the index, Metaplanet claims to “enhance shareholder value through disciplined Bitcoin accumulation,” affirming its reputation as Japan’s premier digital asset firm, per a Monday filing.

The BLOCK Index is a benchmark designed to track the performance of publicly traded companies actively participating in the blockchain and crypto sectors. 

Managed by CoinShares, Europe’s largest digital asset investment firm, the index offers investors diversified exposure to businesses driving the development and implementation of blockchain technologies.

Comprising 45 global leaders, including MicroStrategy, Galaxy Digital Holdings, Meta, and Coinbase, among others, the index uses a rigorous blockchain scoring methodology based on “earnings significance, earnings potential, development stage, business competitive positioning, and business sustainability.” 

Metaplanet’s stock didn’t budge much following the announcement, trading at 1,583 JPY (US$10.42), down almost 1% on Monday, according to Google Finance. 

The Tokyo-based company’s entrance into the CoinShares index also comes on the heels of its multiple Bitcoin (BTC) acquisitions this year, bringing its holdings to 1,108 BTC, valued at around $69 million. 

Last month alone, Metaplanet bought over 600 BTC, including a recent acquisition of 156 BTC for approximately $10 million. Its commitment towards a Bitcoin-centric treasury mirrors the approach of U.S.-based MicroStrategy, known for holding the world’s largest corporate Bitcoin reserve. 

Like MicroStrategy, Metaplanet recently adopted a “BTC Yield” metric to gauge the impact of its Bitcoin holdings on shareholder value.

Edited by Sebastian Sinclair