Metaplanet (3350) to start sponsored ADR program to woo over-the-counter U.S. investors

Japanese bitcoin treasury company Metaplanet (3350) announced that its American Depositary Receipts (ADRs) will begin trading on the U.S. over-the-counter (OTC) market on December 19 under the ticker MPJPY. This sponsored Level I ADR listing is intended to enhance access, transparency, and operational efficiency for U.S. investors in the company, which is a major corporate holder of Bitcoin. The new ADRs will replace existing, unsponsored OTC trading under the MTPLF ticker. While limited to OTC trading and not major exchanges, the structure offers improved settlement, broader brokerage access, and lower fees than the previous unsponsored instruments, removing barriers for both retail and institutional investors. Deutsche Bank Trust Company Americas will serve as the depositary for the program, which does not involve capital raising.

(Source：CoinDesk)