Metaplanet, a Japanese Bitcoin treasury firm, is ready to start buying and selling in america by way of American Depositary Receipts (ADRs).
Buying and selling in Metaplanet’s ADRs is predicted to start out on Friday, with its shares listed in US {dollars} on the over-the-counter (OTC) market beneath the ticker image MPJPY, in accordance to an announcement.
“This immediately displays suggestions from US retail and institutional traders searching for simpler entry to our fairness,” Metaplanet CEO Simon Gerovich stated in an X put up on Friday, including that the launch marks one other step to broader world entry to the corporate.
Metaplanet’s ADR program is launched via a sponsored stage belief settlement with Deutsche Financial institution Belief Firm Americas, performing as depositary, and MUFG Financial institution as custodian in Japan.
The ADRs will not be supposed to lift capital, Metaplanet says
American Depositary Receipts are monetary devices issued by US banks that signify shares of non-US corporations, permitting US traders to purchase and promote shares of international companies with out the necessity to commerce immediately on international exchanges.
“The ADRs will not be supposed to lift funds, however to fund the issuance of widespread shares and most well-liked shares by the corporate,” Metaplanet stated.
The ADR program differs from Metaplanet’s MTPLF providing, which started buying and selling on the OTC Markets Group’s OTCQX market in December 2024.
“It [MTPLF] is just not primarily based on a sponsored ADR program,” the corporate famous within the announcement.
Metaplanet’s has not purchased any Bitcoin since September
The launch of Metaplanet’s MPJPY ADR programme comes as the corporate’s Bitcoin (BTC) shopping for has stalled. After buying round 29,000 Bitcoin in 2025, Metaplanet halted purchases in September, with its most up-to-date acquisition dated Sept. 29, in accordance to knowledge from Bitbo.
Since launching its Bitcoin acquisition technique in April 2024, Metaplanet has amassed a complete of 30,823 BTC, rising as one of many world’s largest digital asset treasuries alongside Michael Saylor’s Technique.
Metaplanet’s BTC shopping for halt got here amid Metaplanet’s enterprise worth falling under the worth of its Bitcoin holdings in mid-October, elevating issues throughout the trade.
A number of DAT corporations additionally noticed sharp share value declines following a powerful rally in July 2025.
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Metaplanet’s market to Bitcoin NAV (mNAV) — a ratio between the corporate’s worth and its BTC holdings — has since recovered above 1, standing at 1.12 by publishing time, in accordance with official knowledge reported by the corporate.
