Japanese listed company Beat Holdings announced that it will increase investment in Bitcoin spot ETF

Planet News: Listed company Beat Holdings Ltd. announced on Thursday that it will increase its investment in Bitcoin-related ETFs, becoming the latest Tokyo-listed company to deepen its digital asset investment against the backdrop of renewed institutional interest in cryptocurrencies. The company, listed on the Tokyo Stock Exchange's standard market, disclosed on Thursday that its board of directors approved raising the cap on crypto-related investments from $6.8 million to $34 million. The company has purchased 131,230 shares of BlackRock's iShares Bitcoin Trust (IBIT) at an average price of $49.49 per share. In a statement, the company noted that with IBIT closing at $58.66 on May 9, Beat's unrealized gains exceed $681,000. (Decrypt)