Tokyo-listed Metaplanet May Draw Passive Flows After Inclusion in FTSE Japan and All-World Indices as Bitcoin Holdings Rise

• Metaplanet upgraded to FTSE Japan mid-cap, effective after market close on September 19, 2025.

• Company disclosed purchase of 103 BTC, bringing holdings to 18,991 BTC and updated capital structure to 722 million shares.

• Passive inflows from index funds may increase liquidity but can expose equity investors to Bitcoin volatility and execution risks.

Metaplanet FTSE Japan inclusion front-loads Bitcoin treasury exposure; learn how index inclusion may drive passive inflows and investor implications. Read more.

What is Metaplanet’s FTSE Japan Index inclusion?

Metaplanet’s FTSE Japan inclusion is the company’s promotion from small-cap to mid-cap in the FTSE Japan Index, effective after market close on September 19, 2025. The change means funds tracking FTSE indices will automatically hold Metaplanet shares, offering an indirect, regulated route to Bitcoin exposure through equity portfolios.

How many Bitcoins does Metaplanet hold now and how did holdings change?

Metaplanet disclosed the purchase of an additional 103 BTC, taking total holdings to 18,991 BTC. The company also issued 49,000 stock acquisition rights during August 18–22, adding 4.9 million shares and lifting the total share count to 722 million, a move intended to fund further Bitcoin purchases.

How could index inclusion affect passive inflows and market dynamics?

Index inclusion creates automatic buying by funds that track FTSE Japan and FTSE All-World, potentially channeling passive capital into Metaplanet. Vincent Liu, CIO at Kronos Research, told plain-text sources that passive flows could increase liquidity and long-term stability, while also exposing passive investors to Bitcoin price swings and company execution risk.

Why does this matter for equity investors?

Investors buying Metaplanet via index funds may believe they are acquiring a Japan equity allocation but will gain indirect BTC exposure. Ryan Yoon, senior analyst at Tiger Research, noted that standard index criteria likely evaluated market cap and volume rather than Bitcoin holdings, making the framework neutral but raising transparency and volatility concerns.

How to evaluate crypto-forward companies for index inclusion?

1. Check market-cap and liquidity: Ensure the company meets index thresholds for market capitalization and average trading volume.
2. Assess BTC holdings and disclosure: Verify on‑balance-sheet BTC amounts and update cadence for transparency.
3. Measure passive-flow impact: Estimate index weight and potential fund inflows to gauge incremental BTC demand.
4. Consider corporate governance: Review shareholder dilution risks from exercised stock rights and capital-raising activities.
5. Model volatility scenarios: Simulate how large BTC moves could affect equity valuation and investor exposure.

Frequently Asked Questions

Will FTSE inclusion change Metaplanet’s share liquidity?

Yes. Inclusion typically increases demand from index-tracking funds, which can improve liquidity and reduce bid-ask spreads, though the effect depends on the index weight and fund allocations.

Does index inclusion guarantee large Bitcoin purchases by funds?

No. Index funds buy company stock, not Bitcoin. Any Bitcoin demand from index inclusion is indirect and depends on how Metaplanet uses capital raised through equity and its public disclosures.

Key Takeaways

• Index promotion: Metaplanet moved to FTSE Japan mid-cap, effective September 19, 2025.
• Bitcoin holdings: Company holds 18,991 BTC after a recent 103 BTC purchase; long-term target is 210,000 BTC.
• Investor impact: Index funds will provide passive inflows and indirect BTC exposure; investors should assess volatility and dilution risks.

Conclusion

Metaplanet’s FTSE Japan inclusion embeds a Bitcoin treasury strategy into mainstream equity indices, creating regulated, passive channels for institutional capital. Investors should weigh improved liquidity and index-driven demand against the dual risks of Bitcoin volatility and company dilution as Metaplanet pursues its long-run BTC accumulation plan.