Metaplan launches US$1 million Hong Kong Bitcoin Fund

Metaplan approved the establishment of a wholly-owned subsidiary in Hong Kong with a planned capital of US$1 million to manage bitcoin-related investments during Asian trading hours

Metaplan has approved the establishment of a wholly-owned subsidiary, Metaplan Asset Management Asia Limited, with an initial planned capital of US$1 million. The new department will be responsible for executing bitcoin-related investment strategies and monitoring positions during Asian trading hours. Simon Gerovich, Darren Winia and Kelvin Lee will serve as the first directors of the subsidiary.

Metaplanet said the establishment of the Hong Kong operation was aimed at complementing the global capabilities of its existing asset management company in Miami. The company expects the subsidiary to have minimal impact on its fiscal year 2026 consolidated financial results.

According to a disclosure document dated September 11, Metaplanet's board of directors has authorized the establishment of the above entity and plans to complete registration in Hong Kong in September 2026. The operating platform will use client funds and Metaplane's own capital to invest in Bitcoin, listed stocks, preferred stocks, credit products and other liquidity instruments. Simon Gerovich, Darren Winia and Kelvin Lee will jointly oversee the operations of the new company.

"Project Nova" plan: Build a financial services infrastructure with Bitcoin at its core

Metaplanet describes the subsidiary as an operating platform under its "Project Nova" plan, which aims to develop financial services linked to Bitcoin. The company pointed out that the unit will be responsible for trade execution, position monitoring and risk control during the U.S. market closure.

Tokyo-based listed company Metaplanet (TSE: 3350) announced on Friday that its board of directors has approved the creation of the new wholly-owned subsidiary in Hong Kong as a major step in expanding its business in Asia. The move marks a key step for the company in building its securities, asset management and capital markets businesses, all centered around its Bitcoin treasury strategy.

This structure is designed to support investment coverage in Asian, U.S. and European markets. Metaplan Asset Management Asia will work in collaboration with Metaplan Asset Management, the group's Miami operating entity (established in March 2026). Miami serves as the central hub for group institutional investment, while Hong Kong provides execution and operational support from Asia. Metaplanet emphasized that the arrangement is an infrastructure component of its planned financial services platform, rather than a fundamental shift in corporate strategy.

Business Scope and Regulatory Compliance

English filings show that the initial capital contribution is US$1 million, and Metaplanet will hold 100% of the subsidiary. The disclosure document did not mention the specific launch date of customer services, the initial asset size under management or the list of external investors, nor did it announce that the Hong Kong business had begun to manage customer funds.

Possible investment categories for the Hong Kong subsidiary include bitcoin-related perpetual preferred shares, derivatives, and structured product income strategies. Equity and credit investments involving companies holding Bitcoin may also be included in the scope of its authorization. However, with the establishment of subsidiaries and no specific funds, preferred shares or credit products have been announced, any planned investment still needs to meet the operational and regulatory requirements of the relevant product and jurisdiction.

It is worth noting that the Hong Kong Securities and Futures Commission (SFC) license information is not clearly listed in the announcement. The disclosure document also did not state whether planned activities operated under local licenses, exemptions, or through other regulated group entities. Metaplanet plans to complete the registration of its Hong Kong subsidiary by the end of September, but has not disclosed when the transaction began or whether it has hired other employees in addition to its three initial directors.

Global layout: Functional division between Miami and Hong Kong

Metaplanet's Miami operations form the U.S. side of its institutional investment framework, while the Hong Kong company aims to continue execution, monitoring and risk management when Asian markets open. This dual-center layout strengthens its global service coverage capabilities.

In addition, another U.S. deal announced by Metaplanet in August involved injecting 2,100 bitcoins and $2.5 million into the Nasdaq-listed Super League Enterprise. Previously reported that Metaplanet expects to receive a 95.7% stake before completing the exercise of certain existing warrants. Super League plans to change its name to Superplanet and trade it on Nasdaq under the code SUPA. Under the agreement, Metaplanet will appoint five members to a nine-member board.

Gerovich sees Superplanet as Metaplanet's gateway to U.S. capital markets. The agreement includes a five-year lock-up period covering common shares issued to Metaplanet through initial transactions, exercise of warrants or conversion of preferred shares. After the transaction is completed, the target company will receive 2,100 bitcoins and may use these assets to support future financing activities. Any issuance of preferred shares will depend on decisions made after the deal closes.

Financial situation and future outlook

Metaplanet held a total of 43,000 bitcoins in its treasury after purchasing 2,823 bitcoins in the second quarter. Gerovich later said the position remained unchanged after transfers between escrow addresses controlled by the company. Following reports that 5,014 bitcoins were moved between Metaplanet's escrow addresses in August, Gerovich clarified: "No bitcoins were sold and our position remains at 43,000."

Metaplanet said the new subsidiary is expected to have a "minimal impact" on its consolidated results for the fiscal year ending December 31, 2026. The statement pointed out that this is only a management forecast and that if there is a significant financial impact, the company will disclose it.

With Metaplanet establishing independent financial operating systems in Japan and the United States, this board's decision further consolidates its strategic position. The company juxtaposed the Hong Kong notice with recent announcements on Bitcoin investment, securities operations and capital structure changes in its disclosure file, demonstrating its determination to continue to expand.