Metaplanet Issues $13.3M Bond to Expand Bitcoin Holdings, Becomes Top Holding in Crypto ETF
Japanese hospitality firm Metaplanet (3350) has issued a 2 billion yen ($13.3 million) zero-coupon bond, with proceeds dedicated to purchasing additional bitcoin (BTC). The bond is set to mature on September 30.
In a strategic move, Metaplanet has also secured a 15.5% weighting in the BetaShares Crypto Innovators ETF (CRYP), a fund managing over $50 billion in assets, according to CEO Simon Gerovich.
This makes Metaplanet the largest holding in the ETF, surpassing crypto heavyweights like Strategy (MSTR) and Coinbase (COIN), which hold the second and third positions, respectively.
Traded on the Australian Securities Exchange (ASX), CRYP provides investors with exposure to companies at the forefront of the crypto and blockchain industries. However, the ETF has struggled this year, down 23% year-to-date.
Metaplanet currently ranks as the tenth-largest publicly traded holder of bitcoin, with a treasury of 3,200 BTC.
