Metaplanet to Launch Sponsored Level I ADR Program for U.S. OTC Investors
Metaplanet, a Japan-based bitcoin treasury company listed in Tokyo under ticker 3350, is initiating a sponsored Level I American Depositary Receipt (ADR) program to facilitate trading on the U.S. over-the-counter (OTC) market. Starting December 19, 2025, Metaplanet ADRs will trade under the ticker MPJPY.
Each ADR will represent one share of Metaplanet and settle through the standard U.S. securities infrastructure with transactions denominated in U.S. dollars. Importantly, this program is designed to enhance accessibility, liquidity, and market credibility for U.S. investors and is not intended to raise new capital or affect the total number of shares outstanding.
The new sponsored ADRs will replace the existing unsponsored OTC trading under the ticker MTPLF, which previously lacked a formal deposit agreement and direct involvement from Metaplanet. Deutsche Bank Trust Company Americas will serve as the depositary bank for the ADR program, while MUFG Bank will act as the custodian in Japan.
As a Level I ADR program—the lowest level of compliance—these ADRs cannot be listed on major regulated exchanges such as Nasdaq or the New York Stock Exchange. However, they offer lower trading fees compared to unsponsored OTC instruments, benefiting U.S. investors.
Following the announcement, Metaplanet shares rose approximately 6% in Tokyo, reaching 443 yen ($2.80). The sponsored ADR program underscores Metaplanet's commitment to better serving U.S. investors without signaling any capital increase or change to outstanding shares.
