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Metaplanet ADRs Launch on US OTC Market
20 Dec
Summary
- Metaplanet's ADRs begin trading December 19 on the US OTC market.
- These securities offer improved access for US investors in a Bitcoin holder.
- ADRs meet level I issuance standards, allowing only OTC trading.
Metaplanet, a prominent Japanese bitcoin treasury company, has announced that its American Depositary Receipts (ADRs) are scheduled to commence trading on the U.S. over-the-counter (OTC) market starting December 19, under the ticker symbol MPJPY. This move is specifically engineered to streamline and improve the investment process for U.S.-based investors seeking exposure to the company, which ranks as the fourth-largest corporate holder of bitcoin.
The newly introduced ADRs will supersede the company's existing, unsponsored OTC trading arrangements under the MTPLF ticker. These ADRs adhere to Level I issuance standards, signifying the lowest regulatory compliance level and precluding trading on major regulated exchanges. Deutsche Bank Trust Company Americas will serve as the depositary, with MUFG Bank managing custody services in Japan.
While the ADRs are restricted to OTC trading, they present significant advantages over prior unsponsored instruments. Investors can expect materially improved settlement processes, substantially broader brokerage access, and considerably lower trading fees. This initiative aims to dismantle key investment barriers for both retail and institutional investors, many of whom require compliant ADR frameworks due to regulatory and custodial requirements.
