Metaplanet Joins FTSE Japan Index: Upgraded to Mid-Cap

FTSE Russell, a London Stock Exchange Group (LSEG) subsidiary, announced on August 22 that Metaplanet has moved from the small-cap category to mid-cap.

The company will join the FTSE Japan Index from September 22, a step that may raise its profile and attract institutional investment.

FTSE Japan Entry Expands Global Reach

The FTSE Japan Index measures the performance of large- and mid-cap Japanese companies through a market capitalization-weighted system. Global asset managers, including Vanguard, use the index as a benchmark for ETFs.

Inclusion strengthens Metaplanet’s presence, as companies in the FTSE Japan Index are automatically added to the FTSE All-World Index. This step could boost liquidity and visibility while increasing passive capital inflows from funds tied to these indices.

On August 13, Metaplanet reported consolidated financial results for Q2 2025. Revenue rose 41% year-on-year to about $8.15 million, while operating profit climbed 38% to $5.43 million.

Bitcoin income dominated results. Through a put option selling strategy, the company earned $12.9 million, or 91% of total revenue. Metaplanet’s shareholder count surged past 128,000, representing a tenfold increase since it adopted a Bitcoin treasury approach.

The company also expanded holdings. It purchased 775 BTC on August 18 and another 103 BTC on August 25, lifting total reserves to 18,991 BTC. Management aims to own 210,000 BTC by the end of 2027.

Rising NAV Premium and Institutional Demand

Metaplanet raised $1.65 billion year-to-date through stock options to finance Bitcoin acquisitions. Executives said shares trade at a premium to net asset value (NAV) due to the rapid growth in Bitcoin yield per share, which surged 468% in 2025.

Other factors include inflows from ETFs and systematic profits from Bitcoin volatility via put option strategies. These elements, combined with index inclusion, could drive sustained institutional demand.

Metaplanet now stands out in Japan’s mid-cap segment, leveraging Bitcoin-focused earnings and a fast-expanding investor base to strengthen its position in financial markets.