Metaplanet Launches US ADR Program Under MPJPY

Metaplanet, a Japanese company focused on Bitcoin as a treasury asset, will begin trading American Depositary Receipts in the United States on Friday, providing U.S. investors with dollar-denominated access to its shares on the over-the-counter market under the ticker symbol MPJPY.

The sponsored Level I ADR program, announced this week, allows each receipt to represent one ordinary share of Metaplanet listed on the Tokyo Stock Exchange. It does not involve issuing new shares or raising capital, ensuring no dilution for existing shareholders. Instead, the initiative addresses operational and regulatory challenges that have limited direct U.S. trading of foreign stocks. Deutsche Bank Trust Company Americas will serve as the depositary, while MUFG Bank acts as custodian for the underlying shares in Japan. The program covers up to 200 million American Depositary Shares and aims to enhance settlement efficiency, reduce transaction costs and improve transparency for retail and institutional investors.

"This directly reflects feedback from U.S. retail and institutional investors seeking easier access to our equity," Metaplanet Chief Executive Simon Gerovich said in a statement. The...