CoinShares adds Metaplanet to its Blockchain Global Equity Index

Japanese investment company Metaplanet has been added to CoinShares’ global equity index for the first time. The index lists 45 companies interested in cryptocurrency and blockchain.

Japanese investment company Metaplanet announced in a press release dated November 5 that it has been added to the CoinShares Blockchain Global Equity Index, also known as the BLOCK Index. This marks the Tokyo-based company’s first inclusion in a globally recognized stock index.

“This milestone underscores Metaplanet’s commitment to increasing shareholder value through disciplined Bitcoin (BTC) accumulation and confirms its position as Japan’s leading Bitcoin Treasury Company,” Metaplanet Representative Director Simon Gerovich wrote.

BLOCK Index is an international stock index managed by CoinShares. The index tracks the performance of publicly traded companies involved in blockchain and cryptocurrency. There are 45 companies from around the world, including crypto exchange Coinbase, Bitcoin miner Riot Platforms and software development company MicroStrategy.

Metaplanet’s Bitcoin holdings have now surpassed 1,000 BTC. The firm’s latest purchase of 156.7 BTC for approximately $10.4 million brought its total assets to 1,018 BTC, or over $70 million.

According to Metaplanet’s statement, the BLOCK index includes the importance of earnings, earnings potential, development stage,
competitive positioning and business sustainability in business.

Metaplanet’s estimated starting weight in the BLOCK Index is based on data from Bloomberg.
It is around 2.5%.

The company stated on October 28 that Bitcoin returns were at 155.8% from October 1 to October 28. Following the latest news, Metaplanet’s shares rose 6.20% to 1,695 yen. Metaplanet has been the best-performing Japanese stock this year, gaining nearly 840%, according to Investing.com.

Metaplanet, called the “MicroStrategy of Asia”, continues to grow its Bitcoin assets, following in the footsteps of MicroStrategy, which has the largest BTC holdings among publicly traded companies. Metaplanet decided to invest in Bitcoin in May 2024 as a strategy to combat the economic challenges plaguing Japan at the time.