Metaplanet2026-07-10 09:39:13Japan's Metaplanet Faces $490M Bitcoin Paper Loss, Stock Plunges 83% in Bear MarketMetaplanet, Japan's leading Bitcoin treasury company, is navigating its first bear market with a $490M unrealized loss and 83.5% stock decline. Despite this, it continues adding BTC but risks removal from TOPIX index due to crypto exposure rules.590
JPX2026-07-02 03:40:147 Reasons JPX Should Reconsider Its Proposed Crypto Asset Exclusion from TOPIX and Move Toward an Asset-Neutral FrameworkJPX Market Innovation & Research (JPXI) is consulting on a new rule that would defer companies whose principal asset is cryptoassets from new inclusion in TOPIX and other periodic indices. This article examines seven critical flaws in the proposal: it introduces a balance-sheet test foreign to TOPIX's objective methodology; the definition of "principal asset is cryptoassets" is vague and leaves key administrative questions unanswered; the rule could be easily circumvented through indirect exposure structures (e.g., ETFs, miner stocks); the carve-out for existing constituents creates internal inconsistency; the open-ended "for the time being" deferral lacks a review timetable or sunset clause; global peers such as MSCI and FTSE Russell have not adopted blanket exclusions; and an asset-neutral concentration framework would be more durable and less prone to arbitrage. The public comment period closes May 7, 2026, and the Bitcoin For Corporations coalition letter urges JPXI to withdraw the exclusion. This article provides a comprehensive analysis for issuers, investors, and index users.670
