UBS Joins Morgan Stanley in Shorting Bitcoin Bet as Metaplanet Stock Plunges Below 600 JPY

The Bitcoin digital asset treasury (DAT) company based in Japan (Metaplanet) is experiencing increased pressure as UBS enters the short-selling of its stock in line with Morgan Stanley and other financial powerhouses. The relocation has raised the rate of sale, pushing stocks to below 600 JPY for the first time since May.

Metaplanet Faces Growing Institutional Short Positions

Institutional short sellers have made Metaplanet a big target. UBS put a new short of 7.31 million shares and is on a list of increasing companies betting against the company. Morgan Stanley MUFG remains the largest short holder, with more than 20 million shares. Data also shows another desk tied to Morgan Stanley holding 17.68 million shorts, with a slight reduction of 768,000 shares.

Institutional Short Positions in MetaplanetJefferies International is the second-largest short holder, holding 10.54 million shares. The firm recently increased its exposure by adding 1.88 million more shares. There are also short positions in other global banks like JPMorgan, Citigroup, Barclays, and Goldman Sachs. Some of them, however, have cut down on their exposure, indicating divided perceptions of the future of the stock.

The surge in institutional shorts comes as Metaplanet enters a silent period until September 17. The company is expected to address shareholder questions afterward. Despite the pressure, Metaplanet has outlined bold expansion plans. It aims to raise $1.4 million to increase Bitcoin reserves and targets holding 30,000 BTC by the end of 2025.

Metaplanet Stock Slides Below 600 JPY

The weight of institutional shorting has pushed Metaplanet’s stock below 600 JPY, closing at 591 JPY on Monday. The drop marked an 8.37% daily decline, with shares trading between 546 JPY and 612 JPY during the session. This marks a sharp reversal after last week’s modest rebound.

Over the past month, the stock has plunged 39%, cutting its year-to-date gain to 69%, as per Yahoo Finance. The downturn contrasts with earlier strong performance that had lifted returns above 500% before heavy selling began. The U.S.-listed MTPLF shares have also followed the same path, slipping 8.9% last week and 28% in the past month. Year-to-date gains now stand at 91%, far lower than earlier highs.