Metaplanet Launches US Trading via ADRs Under MPJPY Ticker
- Metaplanet will begin trading its American Depositary Receipts (ADRs) on the OTC market starting Friday, listed under the ticker symbol MPJPY.
- The company has accumulated a total of 30,823 BTC since launching its acquisition strategy in April.
- Metaplanet halted Bitcoin purchases in September after acquiring approximately 29,000 BTC earlier this year.
- The launch follows the establishment of a US subsidiary in Miami with an initial capital of $15 million aimed at increasing Bitcoin income.
- The ADR program is facilitated through Deutsche Bank Trust Company Americas and MUFG Bank as custodian.
The introduction of Metaplanet’s ADRs aims to provide US investors with easier access to the company’s equity, reflecting demand from both retail and institutional sectors. The decision to halt Bitcoin acquisitions has raised concerns about the company’s enterprise value relative to its holdings.
With a market to Bitcoin NAV (mNAV) ratio of 1.12, Metaplanet’s strategy continues to position it among significant players in digital asset treasuries despite recent purchasing inactivity.(Source)
