Japanese publicly traded company Beat Holdings has announced that it will increase its investment in a Bitcoin spot ETF.

BlockBeats News, May 12th, according to Decrypt's report, the publicly traded company Beat Holdings Ltd. stated on Thursday that it will increase its investment in Bitcoin-related ETFs, becoming the latest Tokyo-listed company to deepen its investment in digital assets amid institutional interest in cryptocurrency.

The company is listed on the Tokyo Stock Exchange's Standard Market and disclosed on Thursday that its board has approved raising the limit for cryptocurrency-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. The company stated in a press release that with IBIT closing at $58.66 on May 9th, Beat holds unrealized gains exceeding $681,000.