Vanguard’s small-cap ETF has taken a $7.5 million stake in Metaplanet, the Tokyo-listed company that has become one of the world’s largest corporate Bitcoin holders. The Vanguard FTSE All-World ex-US Small-Cap ETF (VSS) disclosed a purchase of 4.5 million Metaplanet shares, marking the fund’s first recorded position in the Japanese Bitcoin treasury firm. Bitcoin Treasuries highlighted the disclosure on X on October 26, prompting broad discussion among crypto traders about growing institutional access to Bitcoin-adjacent equities.
The new position adds to Vanguard’s broader exposure. The Vanguard Total International Stock Index Fund (VGTSX) has increased its Metaplanet stake to 15.64 million shares, costing about $53.5 million, while the Vanguard FTSE Japan ETF (VJPN) previously bought 704,500 shares worth about $2.1 million. Vanguard funds have also gained exposure to Strategy, the Bitcoin-heavy company associated with Michael Saylor, and have opened access to regulated digital-asset investment products covering Bitcoin, Ethereum, XRP and Solana.
Analysts note the distinction: owning shares in a company that holds Bitcoin is not the same as buying Bitcoin directly. However, these equity positions provide indirect exposure to the crypto treasury trade through traditional brokerage and ETF vehicles. Metaplanet currently holds 44,000 BTC, positioning it as the second-biggest corporate owner of Bitcoin. In Q3 2026, the company sold 10,000 coins and purchased 11,000 coins, according to the report.
Metaplanet’s Tokyo-listed shares ended Monday up 0.75% at 263 yen, while its US-traded shares closed Friday at $1.66. The moves came as Super League shareholders approved a plan to set up Superplanet, a US Bitcoin treasury business. Separately, Capital Group has become Metaplanet’s largest shareholder with an 11.45% stake valued at about $500 million, surpassing National Financial Services. Other major shareholders include JPMorgan, Citigroup and State Street.
Bitcoin itself recovered more than 1% from its 24-hour low of $79,331, with trading volume up about 5% as markets awaited the US Federal Reserve’s interest rate decision this week. While a single ETF disclosure does not confirm a Vanguard-wide strategic shift, it signals how passive index vehicles may increasingly include Bitcoin treasury companies, broadening indirect Bitcoin exposure to institutional and retail investors.
