Metaplanet posts $725.6M Q1 loss on BTC impairment; eToro crypto contribution down 38%; JPMorgan unveils $100M JLTXX Ethereum-tokenized fund
May 14 (UTC+8) — BBX disclosures show Metaplanet, eToro and JPMorgan released fresh updates spanning earnings and tokenized finance.
Metaplanet Inc. (TSE: 3350 / OTCQX: MTPLF) reported a Q1 net loss of ¥114.5 billion ($725.6 million), largely driven by a noncash fair value impairment on Bitcoin of ¥116.4 billion as BTC fell from $87,000 to $66,000 during the quarter. Revenue surged 251.1% to ¥3.08 billion ($19.5 million). Operating profit rose 282.5%, delivering an operating margin of 73.6%, supported mainly by the firm's Bitcoin Income Generation options strategy. As of March 31, Metaplanet held 40,177 BTC, adding 5,075 BTC in Q1, and reported a BTC yield of 2.8%, ranking third globally among public companies. The company has drawn $302 million from a $500 million credit facility. Full-year guidance remains unchanged at roughly $101 million in net sales and $72 million in operating profit. Shares fell about 3.82% to ¥327.
eToro Group Ltd. (NASDAQ: ETOR) reported Q1 2026 results (May 12; detailed by CoinDesk on May 13). Crypto asset gross revenue was $2.15 billion, down 38% year over year from $3.5 billion in Q1 2025. Crypto asset costs totaled $2.17 billion, leaving a net crypto contribution of about $13 million, versus $17 million a year earlier. Crypto trading volume declined 32% YoY, and average investment per trade fell 22%. Overall net contribution rose 19% to $258 million, above expectations of $234.5 million, helped by a fourfold YoY jump in commodities trading volume, which generated 60% of trading commissions. GAAP net profit was $82 million (+37%), adjusted EPS came in at $0.91 (vs. $0.75 expected), and adjusted EBITDA reached $109 million (+35%). Assets under administration were $17 billion (+15%), with 4.02 million funded accounts (+12%). eToro completed the acquisition of self-custody wallet Zengo on April 30 for about $70 million, activated its Bitcoin BitLicense, and launched crypto trading in New York. CEO Yoni Assia said the firm remains bullish on crypto and expects a rebound to historical highs.
JPMorgan Chase & Co. (NYSE: JPM) said May 13 that J.P. Morgan Asset Management has launched its second Ethereum-based tokenized money market fund, the JPMorgan OnChain LiquidityToken Money Market Fund (JLTXX). The fund is seeded with $100 million of JPMorgan proprietary capital and supported by Anchorage Digital. It runs on the Ethereum public blockchain via the firm's Kinexys Digital Assets platform, investing only in short-term U.S. Treasuries and overnight repurchase agreements fully collateralized by Treasuries or cash. JPMorgan positioned JLTXX to support stablecoin issuers seeking reserve-asset compliance under the GENIUS Act. The fund's annual fee is 0.16%, with fees capped through June 2028. Minimum investment is $1 million via the Morgan Money platform, and investors receive tokenized balances on Ethereum. SEC registration became effective May 13, while the exact launch date was not disclosed. JLTXX follows the MONY tokenized product introduced in December 2025. The global tokenized Treasury market now exceeds $32 billion. (Source: BBX)
