Popular K-pop company behind BTS merch sells all its Bitcoin
Key takeaways
- According to a Form F-3 on June 30, the sale was made for aggregate proceeds of $64.2 million, which registers up to $250 million in securities.
- K Wave's subsidiary, Play Company, has a one-year global distribution agreement with HYBE Co., Ltd., the parent company behind global K-Pop group BTS, on April 3, 2026.
- Related: Analysts flag warning signs for Bitcoin treasury companies
Popular K-pop company behind BTS merch sells all its Bitcoin Popular K-pop company behind BTS merch sells all its Bitcoin · The Street · Getty Images Pooja Rajkumari Fri, July 3, 2026 at 10:30 PM GMT+7 2 min read 352820.KS BTC-USD KWM K Wave Media (NASDAQ: KWM), a Korean entertainment company known for K-drama and K-pop content licensing, sold all of its Bitcoin (BTC) holdings on May 6.
According to a Form F-3 on June 30, the sale was made for aggregate proceeds of $64.2 million, which registers up to $250 million in securities.
K Wave's subsidiary, Play Company, has a one-year global distribution agreement with HYBE Co., Ltd., the parent company behind global K-Pop group BTS, on April 3, 2026. This covers video and print merchandise for BTS, and other HYBE-backed K-Pop groups like Seventeen, Tomorrow X Together and LE SSERAFIM. HYBE retains all underlying intellectual property rights under the deal.