Bitcoin ETFs Bleed as Metaplanet CEO Rejects Allegations

Metaplanet CEO Simon Gerovich denied claims that the company misled investors about its Bitcoin strategy and disclosures. Critics on X argued Metaplanet delayed or withheld price‑sensitive information about large Bitcoin purchases and options trades funded with shareholder capital, obscured losses from its derivatives strategy and failed to fully disclose key terms of its BTC‑backed borrowings.

In a detailed X post, Gerovich said the company promptly reported all Bitcoin purchases, option strategies and borrowings and that critics were misreading its financial statements rather than uncovering misconduct. Selling pressure in US‑listed spot Bitcoin ETFs continued, with $165.8 million in outflows on Thursday and weekly losses of $403.9 million, according to SoSoValue data.

The redemptions moved the funds closer to a possible five‑week outflow streak and left year‑to‑date losses at $2.7 billion, while trading activity fell 21% over the week to its lowest levels since late December.

United States

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