Swiss policymaker Samuel Kullmann secured a sweeping majority vote for a Bitcoin mining study aimed at optimizing local power infrastructure.

According to Bitcoin (BTC) advocate Dennis Porter, Kullmann’s proposal passed on Nov. 28 and could steer Switzerland toward BTC adoption.

The Bitcoin policy will now explore how the world’s largest decentralized proof-of-work blockchain can stabilize the Swiss energy grid and “use otherwise wasted energy.” Kullmann’s proposal passed following an 85:46 vote in Switzerland’s Parliament.

Metaplanet wants to raise $62 million from its upcoming series of stock acquisition rights to EVO Fund. The firm will use the funds to buy more Bitcoin for its treasury management.

In a Nov. 28 press release, the Japanese investment firm announced its plans to issue its 12th Stock Acquisition Rights to EVO FUND, an investment management firm in the Cayman Islands, through a third-party allotment starting Dec. 16, 2024.

Metaplanet will be issuing a total of 29,000 units. Each unit entitles EVO FUND to purchase 100 common shares. Each subscription right costs 614 yen, resulting in a total issuance price of 17,806,000 yen.

If EVO FUND decides to purchase all the units offered by Metaplanet, they will acquire 2,900,000 common shares with a lower exercise price limit of 1,500 yen. Therefore, Metaplanet stands to gain more than 9,5 billion yen ($62 million) from their 12th Stock Acquisition Rights sale to EVO FUND.

However, the company also noted the transaction is subject to approval from Japan’s Financial Instruments and Exchange Act.

The Japanese investment firm declared that it will use the majority of the funds raised to purchase more Bitcoin(BTC), in accordance with the company’s strategic corporate treasury strategy to focus on “expanding our Bitcoin position.”

“We are prioritizing a Bitcoin-first, Bitcoin-only approach to treasury management. We have made it clear that we intend to utilize debt and periodic stock issuance to systematically increase our Bitcoin holdings while reducing exposure to a depreciating yen,” stated the company in its press release.

In October, Metaplanet completed its 11th series of stock acquisition rights. The company raised a total of 10 billion yen ($66 million) which it also allocated the majority of the funds to purchasing Bitcoin.

Often referred to as “Asia’s MicroStrategy” by market proponents, Metaplanet has amassed the largest Bitcoin trove in Japan with 1,142 BTC, worth $109.36 million at current market prices.

Recently, Metaplanet announced it has been added to the Amplify Transformational Data Sharing ETF or BLOK, a global index that invests in leading blockchain companies including SBI Holding, MicroStrategy and Nvidia.

CEO of Metaplanet, Simon Gerovich, stated that Metaplanet’s inclusion into the ETF signifies the firm’s leadership as “Japan’s leading Bitcoin Treasury Company.”

Metaplanet has been added to the the Amplify Transformational Data Sharing ETF or BLOK, a global index that invests in leading blockchain companies including SBI Holding, MicroStrategy and Nvidia.

On Nov. 28, the Japanese investment firm announced its inclusion into BLOK, joining a lineup of 53 companies that engage in the development and utilization of blockchain technology. The ETF features leading industry players including MicroStrategy, Robinhood, Nvidia, and SBI Holdings.

According to the press release, Metaplanet’s estimated starting weight on the BLOK will be around 2.9%. As of Nov. 29, the companies occupying to top spots on the Amplify Transformational Data Sharing ETF Blockchain leaderboard include Core Scientific, HUT 8, Coinbase, Galaxy Digital, MicroStrategy and Robinhood.

BLOK is managed by Amplify ETFs and leverages an active strategy to find and invest in companies that utilize blockchain technology in its daily operations, serving as a guide for investors looking for opportunities to inject capital into the blockchain sector.

BLOK holds more than $930 million in net assets, cementing itself as a widely followed ETF in the blockchain investment landscape.

CEO of Metaplanet, Simon Gerovich, shared the news on his X account. He stated that Metaplanet’s inclusion into the Amplify Transformational Data Sharing ETF further highlights the growing recognition of Metaplanet’s Bitcoin(BTC) acquisition strategy and the firm’s status as “Japan’s leading Bitcoin Treasury Company.”

Nicknamed “Asia’s MicroStrategy” by market proponents, Metaplanet has accumulated a Bitcoin trove of 1,142 BTC, worth $109.21 million at current market prices.

Metaplanet currently stands in 14th place, with the ticker 3350 JP, holding a current market value of $23.04 million.

Earlier this month, Metaplanet was included in CoinShares’ Blockchain Global Equity Index, also known as the BLOCK Index. The index tracks the performance of 45 companies that dabble in crypto and blockchain technology.

As previously reported by crypto.news on Oct. 23, Japan regulators are still reluctant to adopt spot crypto ETFs despite countries like the U.S. and Hong Kong already approving ETFs, according to Sumitomo Mitsui Trust Asset Management.