Metaplanet Issues $13M Zero-Coupon Bond to Buy More Bitcoin

Japanese hotel firm Metaplanet (3350) has issued a 2 billion yen ($13.3 million) zero-coupon ordinary bond, with proceeds earmarked for additional bitcoin (BTC) purchases. The bond is scheduled to redeem on Sept. 30.

In addition, Metaplanet has been added to the BetaShares Crypto Innovators ETF (CRYP), a fund with over $50 billion in assets under management, according to CEO Simon Gerovich.

Metaplanet holds the largest weighting in the ETF at 15.5%, surpassing notable industry names such as Strategy (MSTR) and Coinbase (COIN), which take the second and third spots, respectively.

The ETF is traded on the Australian Securities Exchange (ASX) and offers investors exposure to companies operating at the forefront of the crypto and blockchain sectors. While, the CRYP ETF is down 23% year-to-date.

Metaplanet is currently ranked as the tenth-largest publicly listed holder of bitcoin, with a treasury of 3,200 BTC.

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