Key Takeaways
- • Vanguard's FTSE All-World ex-US Small-Cap ETF (VSS) has reportedly acquired 4.5 million shares of Metaplanet, valued at approximately $7.5 million, according to Bitcoin Treasuries' October 26 update.
- • The VSS position is described as Metaplanet's first reported holding in that fund and is roughly 0.07% of the ETF's approximately $11.34 billion in assets.
- • Other Vanguard products already hold Metaplanet shares, including the Total International Stock Index Fund (VGTSX) with 15.64 million shares (about $53.5 million) and the FTSE Japan ETF (VJPN) with 704,500 shares (about $2.1 million).
- • Metaplanet held 44,000 BTC as of September 30 and has revised its capital allocation to keep roughly 85% to 90% of assets in Bitcoin.
- • Metaplanet shares closed down 0.75% at ¥263 on the Tokyo Stock Exchange despite the Vanguard report.
Summary
Vanguard's FTSE All-World ex-US Small-Cap ETF (VSS) has reportedly acquired 4.5 million shares of Japanese Bitcoin treasury company Metaplanet, with the position valued at approximately $7.5 million, according to an October 26 update from Bitcoin Treasuries. The report describes it as the first disclosed Metaplanet holding for the fund, which invests in small companies outside the United States. The position is small relative to the ETF's portfolio: available fund data place VSS assets at roughly $11.34 billion, so the stake equals about 0.07% of the fund.
The disclosure follows other Vanguard exposure to the company. The Total International Stock Index Fund (VGTSX) was previously reported to hold 15.64 million Metaplanet shares, worth approximately $53.5 million, and the FTSE Japan ETF (VJPN) reportedly acquired 704,500 shares, worth around $2.1 million, last year. Commentators noted that Vanguard, which manages more than $13 trillion, has historically taken a cautious stance on cryptocurrencies. Because the exposure comes through publicly traded equity rather than direct Bitcoin ownership, the fund's returns track Metaplanet's share price, while the company itself holds the Bitcoin on its balance sheet. Index-tracking funds can acquire such holdings as a company's market value and index eligibility change.
Metaplanet held 44,000 BTC as of September 30, following third-quarter transactions that involved selling 10,000 BTC and buying 11,000 BTC. CEO Simon Gerovich described the holding as making Metaplanet the second-largest listed corporate Bitcoin holder. In October the company revised its capital allocation policy, targeting 85% to 90% of assets in Bitcoin and designating the remainder for income-generating acquisitions and investments. It also announced plans to raise ¥52 billion (about $340 million) through zero-interest convertible bonds maturing in 2031, with roughly ¥23.6 billion earmarked for debt repayment and up to ¥28.3 billion for share repurchases. Metaplanet repurchased nearly 74 million shares on October 14 at ¥261 each, spending approximately ¥19.31 billion.
Metaplanet shares closed Monday's session on the Tokyo Stock Exchange at ¥263, down 0.75%, trading between ¥254 and ¥269 on volume of about 13 million shares against an average near 27 million. The U.S. over-the-counter shares (MTPLF) closed Friday at $1.66, up 0.30%. The company is also pursuing a U.S. Bitcoin treasury business through a proposed transaction with Nasdaq-listed Super League Enterprise, involving 2,100 BTC and $2.5 million in cash, which would give Metaplanet about 95.7% ownership. Super League shareholders have reportedly approved the proposal, and completion is expected in the fourth quarter of 2026, subject to closing requirements. Separately, its Metaplanet Securities subsidiary, formerly Siiibo Securities, is developing Bitcoin-linked investment products under Project Nova.
The disclosure follows other Vanguard exposure to the company. The Total International Stock Index Fund (VGTSX) was previously reported to hold 15.64 million Metaplanet shares, worth approximately $53.5 million, and the FTSE Japan ETF (VJPN) reportedly acquired 704,500 shares, worth around $2.1 million, last year. Commentators noted that Vanguard, which manages more than $13 trillion, has historically taken a cautious stance on cryptocurrencies. Because the exposure comes through publicly traded equity rather than direct Bitcoin ownership, the fund's returns track Metaplanet's share price, while the company itself holds the Bitcoin on its balance sheet. Index-tracking funds can acquire such holdings as a company's market value and index eligibility change.
Metaplanet held 44,000 BTC as of September 30, following third-quarter transactions that involved selling 10,000 BTC and buying 11,000 BTC. CEO Simon Gerovich described the holding as making Metaplanet the second-largest listed corporate Bitcoin holder. In October the company revised its capital allocation policy, targeting 85% to 90% of assets in Bitcoin and designating the remainder for income-generating acquisitions and investments. It also announced plans to raise ¥52 billion (about $340 million) through zero-interest convertible bonds maturing in 2031, with roughly ¥23.6 billion earmarked for debt repayment and up to ¥28.3 billion for share repurchases. Metaplanet repurchased nearly 74 million shares on October 14 at ¥261 each, spending approximately ¥19.31 billion.
Metaplanet shares closed Monday's session on the Tokyo Stock Exchange at ¥263, down 0.75%, trading between ¥254 and ¥269 on volume of about 13 million shares against an average near 27 million. The U.S. over-the-counter shares (MTPLF) closed Friday at $1.66, up 0.30%. The company is also pursuing a U.S. Bitcoin treasury business through a proposed transaction with Nasdaq-listed Super League Enterprise, involving 2,100 BTC and $2.5 million in cash, which would give Metaplanet about 95.7% ownership. Super League shareholders have reportedly approved the proposal, and completion is expected in the fourth quarter of 2026, subject to closing requirements. Separately, its Metaplanet Securities subsidiary, formerly Siiibo Securities, is developing Bitcoin-linked investment products under Project Nova.
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