Metaplanet Makes Its Debut on CoinShares' Blockchain Global Equity Index
Metaplanet Inc. has secured its place on the CoinShares Blockchain Global Equity Index, marking a significant milestone for the Japanese investment adviser.
Japanese investment adviser Metaplanet Inc. (3350) has made history by being included in the CoinShares Blockchain Global Equity Index for the first time. This important advancement reflects the company's innovative strategies.
Since May, Metaplanet has embraced the practice of holding bitcoin to mitigate the fluctuations of the yen; it currently owns 1,018 BTC, valued at over $70 million.
According to Investing.com, Metaplanet's stock has emerged as the best-performing Japanese equity this year, surging nearly 840%. On the last trading day, it closed at 1,695 yen ($11.14), marking a 6% increase, outpacing the benchmark Nikkei 225 Index, which saw a rise of 1.4%.
The addition to an index typically elevates demand for a stock, as index-tracking investors seek to incorporate it into their portfolios.
The BLOCK Index consists of 45 companies involved in the cryptocurrency and blockchain sectors, including notable players such as the crypto exchange Coinbase and bitcoin miners Marathon Digital and Riot Platforms. Additionally, it features MicroStrategy, recognized for maintaining the largest bitcoin reserve among publicly traded companies, totaling 252,220 BTC.
