Bitcoin News Today: Metaplanet Restructures Capital, Launches ADRs to Fuel Bitcoin Growth

Metaplanet, Japan's largest corporate Bitcoin holder, has approved a comprehensive capital restructuring plan aimed at raising funds through dividend-paying preferred shares. The move was confirmed on Monday, with the company's board approving five key proposals to enhance its capital structure. These measures include reclassifying capital reserves, expanding the number of authorized preferred shares, and introducing new dividend mechanisms for institutional investors according to the report.

The restructuring plan focuses on introducing both floating and periodic dividend structures, specifically tailored for Class A and Class B preferred shares. Class A will use a

monthly floating dividend model, while Class B shares will provide quarterly dividends and are available to international institutional investors. This strategy is expected to attract more stable and long-term investment capital as per analysis.

In addition to the preferred share initiatives, Metaplanet plans to list its American Depositary Receipts (ADRs) on the U.S. over-the-counter market under the ticker symbol MPJPY. This development is being facilitated by Deutsche Bank Trust Company Americas, which will act as the depositary for the ADRs. The ADRs will enable U.S. investors to trade Metaplanet shares in dollars without the need for a Japanese brokerage account according to industry sources.

Institutional Interest and Capital Expansion

The restructuring plan received strong support from institutional investors, including Norway's Norges Bank Investment Management, which backed all five proposals ahead of the December 22 Extraordinary General Meeting. This support highlights growing institutional confidence in Metaplanet's Bitcoin acquisition strategy and its unconventional balance sheet management according to market reports.

By expanding its capital reserves and introducing a more flexible dividend framework, Metaplanet aims to raise up to $150 million from institutional investors. The capital will support further Bitcoin acquisitions and strengthen its financial position in the digital asset treasury sector. The company currently holds 30,823 Bitcoin, valued at approximately $2.75 billion as reported.

The approved capital restructuring also includes doubling the number of Class A and Class B preferred shares. This expansion allows for greater flexibility in capital deployment and offers more options for investors seeking dividend income. The company's management believes this strategy will help stabilize its capital structure while supporting continued growth in its Bitcoin holdings according to company filings.

Global Market Access and Regulatory Compliance

The launch of the ADR program is a key step in Metaplanet's broader internationalization strategy. Trading will begin on the OTC market under the ticker MPJPY, replacing the previous unsponsored OTC trading under MTPLF. This new structure improves transparency and settlement efficiency, making it easier for U.S. investors to access the company's shares according to market analysis.

The ADRs are designed to comply with Level I standards under U.S. securities regulations and will not involve the issuance of new shares. Instead, the ADR program aims to facilitate trading efficiency and reduce settlement complexity for both retail and institutional investors. This move addresses previous concerns about the operational challenges associated with trading Metaplanet shares in the U.S. as confirmed by industry experts.

Metaplanet's CEO, Simon Gerovich, emphasized that the ADR program reflects strong investor demand for easier access to the company's equity. The new listing with Deutsche Bank and MUFG Bank as custodian in Japan ensures compliance with cross-border custody arrangements, adding a layer of security and trust for international investors according to company statements.

The ADR structure is also expected to improve trading liquidity and reduce settlement times, which are critical for attracting institutional participation. The company has already taken steps to expand its U.S. presence by establishing a subsidiary, and the ADR program aligns with its long-term global expansion goals according to market observers.

Investor Reactions and Market Outlook

The restructuring and ADR launch have drawn attention from both institutional and retail investors, although opinions remain divided. Some analysts view the move as a strategic step toward stabilizing Metaplanet's capital structure and increasing its global visibility. Others remain cautious, citing concerns about the company's reliance on Bitcoin and the volatility associated with its holdings according to financial analysis.

Metaplanet's share price has been volatile in recent months, with the company's enterprise value falling below the value of its Bitcoin holdings earlier this year. However, the mNAV ratio has since recovered to 1.12, indicating a modest rebound in investor confidence. The recent approval of the capital restructuring is expected to provide further clarity on the company's financial direction according to market reports.

Despite the positive developments, risks remain, particularly regarding capital dilution and the company's exposure to Bitcoin price swings. The recent halt in Bitcoin acquisitions since September has also raised questions about the company's future strategy and capacity for growth. Investors will be closely monitoring how management navigates these challenges while maintaining its long-term vision according to expert commentary.

With its ADR program now underway and institutional support growing, Metaplanet is positioning itself as a key player in the Bitcoin treasury sector. The company's ability to balance capital structure, investor expectations, and digital asset strategy will likely shape its trajectory in the coming months as stated in official documents.