Metaplanet, a Japan-based firm with a bold commitment to Bitcoin, has recently seen a surge in institutional interest. National Financial Services LLC (NFS), the broker-dealer of Fidelity Investments, has become the largest shareholder of Metaplanet, holding 84.4 million shares, equivalent to 12.9% of the company’s total equity. This stake is currently valued at approximately ¥121 billion or $816 million.
This significant increase in NFS’s ownership of Metaplanet reflects the growing interest in the firm, driven by its strong focus on Bitcoin. NFS is a brokerage firm catering to retail and institutional investors using Fidelity’s trading platforms. Fidelity is a major issuer of spot Bitcoin ETFs in the US, managing around $25 billion in assets through its FBTC fund.
Metaplanet’s CEO, Simon Gerovich, recently reported that Capital Group, a major US asset management firm overseeing $2.9 trillion in assets, also holds a sizable position in the company. Capital Group owns 44.2 million shares, representing 6.6% of total ownership. Gerovich stated that these investments are a sign of the firm’s evolving shareholder base as global access expands.
In addition to the institutional interest, Metaplanet has been actively accumulating Bitcoin over the past year. The firm currently holds 16,352 BTC, acquired for $1.6 billion, with unrealized profits exceeding $300 million. This significant Bitcoin holding has positioned Metaplanet as the fifth-largest public holder of Bitcoin, surpassing companies like Tesla.
Despite the impressive Bitcoin holdings, Metaplanet’s stock has faced recent headwinds. The company’s shares have dropped over 24% in the past month, trading at around ¥1,436 after an 8% decline today. However, trading activity remains high, with the company accounting for 29.2% of all Japanese yen-denominated trading volume on the Tokyo Stock Exchange’s Standard Market over the past 20 sessions.
Despite the recent stock price fluctuations, Metaplanet has seen a remarkable 1,400% gain in its stock price over the past year, solidifying its position as one of Japan’s most closely watched mid-cap stocks.
In conclusion, Metaplanet’s growing institutional interest and aggressive Bitcoin holdings showcase the firm’s commitment to digital assets and its position as a key player in the cryptocurrency space.