Metaplanet joins FTSE Japan Index after mid-cap upgrade

Metaplanet, the Tokyo-based Bitcoin treasury firm, has been bumped into mid-cap territory and listed on the FTSE Japan Index, according to FTSE Russell’s September 2025 Semi-Annual Review.

The upgrade followed the company’s financial performance in Q2 and its explosive rise on the Tokyo Stock Exchange.

The FTSE Japan Index is a collection of mid- and large-cap stocks traded in Japan, and entry into it automatically feeds companies like Metaplanet into the FTSE All-World Index, which is tracked by funds across international markets.

The listing means passive investment capital from traditional finance now flows straight into a company holding Bitcoin on its balance sheet. Metaplanet’s treasury currently holds 18,888 BTC, ranking it as the seventh-largest publicly traded Bitcoin holder.

That stash is larger than the holdings of Tesla, Coinbase, and Canadian miner Hut 8. Metaplanet is now also the largest BTC-holding company in Japan.

The firm started life as a hotel operator but completely rebranded in 2024 to become a dedicated Bitcoin treasury company.

Metaplanet’s market value climbs past traditional giants

The company’s stock has soared over 700% in the past year, despite losing nearly half its value after peaking in mid-June. Even with that drop, the firm still trounced most benchmarks.

In August, Metaplanet reported year-to-date gains of 187%, while the TOPIX Core 30, which tracks Japan’s largest blue-chip firms like Sony, Toyota, and Nintendo, only managed a 7.2% rise.

Metaplanet’s breakout on the Tokyo market is now pulling in political interest. Eric Trump, son of U.S. President Donald Trump, plans to travel to Tokyo next month to attend Metaplanet’s shareholder meeting scheduled for September 1.

Eric will also be in Hong Kong from August 28–29 for the Bitcoin Asia conference, further signaling his family’s deepening involvement in crypto markets.

During the September 1 meeting, Metaplanet shareholders will vote on new capital-raising strategies, a move expected to strengthen its balance sheet for future expansion.

The attendance of Eric at the meeting has already drawn attention, especially in the wake of a separate $1.5 billion agreement announced by a Las Vegas firm with biotech and fintech roots.

That deal involves the conversion of the company into a full-scale buyer of virtual tokens, including assets issued by Trump-affiliated World Liberty Financial.

Japan opens gates to crypto while Metaplanet builds a Bitcoin war chest

Japan’s growing openness to crypto has created fertile ground for Metaplanet’s rise. On August 18, the country’s Financial Services Agency signed off on the first-ever yen-backed stablecoin, giving legitimacy to tokenized assets in a country known for tight financial regulation.

Government officials aren’t sitting on the sidelines either. Finance Minister Katsunobu Kato and other lawmakers are expected to speak at WebX2025, a two-day digital forum set for August 25–26 in Tokyo, where industry heads and regulators will meet to discuss the next phase of crypto policy.

Metaplanet’s ambitions go beyond holding BTC. CEO Simon Gerovich said in July that the firm may start using a portion of its Bitcoin to buy revenue-generating businesses, specifically pointing to the possibility of acquiring a crypto-adjacent firm, like a digital bank.

Gerovich and his team have already made it clear how far they want to go. Metaplanet has set a target of holding 210,000 BTC by 2027, which would account for 1% of Bitcoin’s fixed 21 million coin supply.

That goal would place them in the company of sovereign buyers, ETFs, and major U.S. corporate treasuries. Whether they reach it or not, they’ve already pushed Bitcoin exposure into the FTSE index ecosystem, and dragged institutional cash right into the world of crypto.

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