According to BlockBeats, Beat Holdings Ltd., a publicly traded company on the Tokyo Stock Exchange, announced plans to increase its investment in Bitcoin-related ETFs. This move comes amid renewed institutional interest in cryptocurrencies.
The company's board has approved raising the cap on crypto-related investments from $6.8 million to $34 million. Beat Holdings has already acquired 131,230 shares of BlackRock's iShares Bitcoin Trust (IBIT) at an average price of $49.49 per share. With IBIT's closing price at $58.66 on May 9, the company reported unrealized gains exceeding $681,000.
