BlackRock’s iShares Core MSCI EAFE ETF, or IEFA, has increased its position in Metaplanet to 3.73 million shares, according to data from BitcoinTreasuries.net, with the stake valued at about $5.18 million. Metaplanet, a Japan-listed company pursuing an aggressive Bitcoin treasury strategy, currently holds 43,000 BTC worth roughly $2.8 billion, making it the world’s third-largest corporate Bitcoin holder among listed companies. The company has drawn comparisons with MicroStrategy because it has used debt and equity issuance to build its Bitcoin reserves. IEFA tracks large-, mid- and small-cap stocks in developed markets excluding the U.S. and Canada, suggesting the larger holding may reflect passive index exposure as much as growing institutional tolerance for Bitcoin-linked equities. The move also underscores how traditional finance vehicles are increasingly intersecting with digital-asset markets, even as companies with large Bitcoin treasuries remain exposed to sharp swings in crypto prices and share performance.