CoinShares PLC disclosure: institutional investor group led by Discovery Capital Management, LLC reports shared beneficial ownership of 6,590,380 Ordinary Shares, equal to 5.00% of the class. The filing identifies Discovery Global Opportunity Master Fund, Ltd. and Robert K. Citrone as reporting persons with shared voting and dispositive power over the same 6,590,380 shares. The signatures are dated 05/21/2026.
The filing states these securities are directly owned by advisory clients of Discovery Capital Management, LLC and includes a joint filing agreement. The reporting persons disclaim beneficial ownership except for pecuniary interest.
Positive
None.
Negative
None.
Insights
Institutional holder reports a 5.00% shared stake via advisory relationships.
The filing lists 6,590,380 Ordinary Shares representing 5.00% of the class, with shared voting and shared dispositive power across Discovery Capital Management, Robert K. Citrone, and Discovery Global Opportunity Master Fund, Ltd. The signatures are dated 05/21/2026.
Ownership is described as held by advisory clients; the report includes a disclaimer of beneficial ownership except for pecuniary interest. Subsequent filings would clarify any changes in voting or disposition arrangements.
Disclosure signals a coordinated reporting group rather than an outright direct ownership claim.
The report states the shares are "directly owned by advisory clients of Discovery Capital Management, LLC," and that none of those clients (other than the named fund) exceed 5%. The filing includes a Joint Filing Agreement.
Cash‑flow treatment and any plans to trade are not stated in the excerpt; future Schedule 13D/13G amendments would show material changes in intent or position.
Key Figures
Reported shares beneficially owned:6,590,380 sharesPercent of class:5.00%Filing signatures dated:05/21/2026+1 more
4 metrics
Reported shares beneficially owned6,590,380 sharesAmount listed as beneficial ownership by reporting persons
Percent of class5.00%Percent of Ordinary Shares reported for each reporting person
Filing signatures dated05/21/2026Date shown with signatures on the Schedule 13G
CUSIPG670AQ104CUSIP number for CoinShares Ordinary Shares
A Schedule 13G is a formal document that investors file with the government when they acquire a large ownership stake in a company, usually for investment purposes rather than control. It helps keep the public informed about who owns significant parts of a company's shares, which can influence how the company is managed and how investors make decisions. Filing this schedule is important for transparency and understanding the ownership landscape of publicly traded companies.
shared dispositive powerregulatory
"shared dispositive power 6,590,380.00"
beneficially ownedfinancial
"Amount beneficially owned: Discovery Capital Management, LLC - 6,590,380"
Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.
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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
CoinShares PLC
(Name of Issuer)
Ordinary Shares, no par value
(Title of Class of Securities)
G670AQ104
(CUSIP Number)
05/14/2026
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)
schemaVersion:
SCHEDULE 13G
CUSIP Number(s):
G670AQ104
1
Names of Reporting Persons
Discovery Capital Management, LLC
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
CONNECTICUT
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
6,590,380.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
6,590,380.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
6,590,380.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
5.00 %
12
Type of Reporting Person (See Instructions)
IA
SCHEDULE 13G
CUSIP Number(s):
G670AQ104
1
Names of Reporting Persons
Robert K. Citrone
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
UNITED STATES
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
6,590,380.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
6,590,380.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
6,590,380.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
5.00 %
12
Type of Reporting Person (See Instructions)
HC, IN
SCHEDULE 13G
CUSIP Number(s):
G670AQ104
1
Names of Reporting Persons
Discovery Global Opportunity Master Fund, Ltd.
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
CAYMAN ISLANDS
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
6,590,380.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
6,590,380.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
6,590,380.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
5.00 %
12
Type of Reporting Person (See Instructions)
CO
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
CoinShares PLC
(b)
Address of issuer's principal executive offices:
2 HILL STREET, ST. HELIER, Jersey, JE2-4UA
Item 2.
(a)
Name of person filing:
Discovery Capital Management, LLC
Robert K. Citrone
Discovery Global Opportunity Master Fund, Ltd.
(b)
Address or principal business office or, if none, residence:
Discovery Capital Management, LLC
20 Marshall Street, Suite 310
South Norwalk, CT 06854
United States of America
Robert K. Citrone
c/o Discovery Capital Management, LLC
20 Marshall Street, Suite 310
South Norwalk, CT 06854
United States of America
Discovery Global Opportunity Master Fund, Ltd.
c/o Discovery Capital Management, LLC
20 Marshall Street, Suite 310
South Norwalk, CT 06854
United States of America
(c)
Citizenship:
Discovery Capital Management, LLC - Connecticut
Robert K. Citrone - United States
Discovery Global Opportunity Master Fund, Ltd. - Cayman Islands
(d)
Title of class of securities:
Ordinary Shares, no par value
(e)
CUSIP Number(s):
G670AQ104
Item 3.
If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)
Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)
An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)
An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)
A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)
A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)
A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
(k)
Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.
Ownership
(a)
Amount beneficially owned:
Discovery Capital Management, LLC - 6,590,380
Robert K. Citrone - 6,590,380
Discovery Global Opportunity Master Fund, Ltd. - 6,590,380
(b)
Percent of class:
Discovery Capital Management, LLC - 5.00%
Robert K. Citrone - 5.00%
Discovery Global Opportunity Master Fund, Ltd. - 5.00%
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
Discovery Capital Management, LLC - 0
Robert K. Citrone - 0
Discovery Global Opportunity Master Fund, Ltd. - 0
(ii) Shared power to vote or to direct the vote:
Discovery Capital Management, LLC - 6,590,380
Robert K. Citrone - 6,590,380
Discovery Global Opportunity Master Fund, Ltd. - 6,590,380
(iii) Sole power to dispose or to direct the disposition of:
Discovery Capital Management, LLC - 0
Robert K. Citrone - 0
Discovery Global Opportunity Master Fund, Ltd. - 0
(iv) Shared power to dispose or to direct the disposition of:
Discovery Capital Management, LLC - 6,590,380
Robert K. Citrone - 6,590,380
Discovery Global Opportunity Master Fund, Ltd. - 6,590,380
Item 5.
Ownership of 5 Percent or Less of a Class.
Not Applicable
Item 6.
Ownership of more than 5 Percent on Behalf of Another Person.
If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required.
All of the securities reported in this Schedule 13G are directly owned by advisory clients of Discovery Capital Management, LLC. None of those advisory clients, other than Discovery Global Opportunity Master Fund, Ltd., may be deemed to beneficially own more than 5% of the Ordinary Shares, no par value.
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
Not Applicable
Item 8.
Identification and Classification of Members of the Group.
Not Applicable
Item 9.
Notice of Dissolution of Group.
Not Applicable
Item 10.
Certifications:
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
Discovery Capital Management, LLC
Signature:
/s/ Robert K. Citrone
Name/Title:
Robert K. Citrone, Principal
Date:
05/21/2026
Robert K. Citrone
Signature:
/s/ Robert K. Citrone
Name/Title:
Robert K. Citrone
Date:
05/21/2026
Discovery Global Opportunity Master Fund, Ltd.
Signature:
/s/ Robert K. Citrone
Name/Title:
Robert K. Citrone, Director
Date:
05/21/2026
Comments accompanying signature: * Each Reporting Person disclaims beneficial ownership of the reported securities except to the extent of his, her or its pecuniary interest therein, and this report shall not be deemed an admission that such Reporting Person is the beneficial owner of the securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.
To the extent that "ownership of 5 percent or less of a class" was indicated in Item 5, such response only applies to the Reporting Person(s) that indicated elsewhere herein that it beneficially owns five percent (5%) or less of the class.
What stake does Discovery Capital report in CoinShares (CSHR)?
Discovery Capital reports shared beneficial ownership of 6,590,380 shares, equal to 5.00% of CoinShares' Ordinary Shares. The filing attributes shared voting and dispositive power to the reporting persons.
Who are the reporting persons on this Schedule 13G for CSHR?
The Schedule 13G lists Discovery Capital Management, LLC, Robert K. Citrone, and Discovery Global Opportunity Master Fund, Ltd. as the reporting persons associated with the disclosed position.
Are the reported CoinShares shares directly owned or controlled?
The filing states the securities are "directly owned by advisory clients of Discovery Capital Management, LLC." The reporting persons disclaim beneficial ownership except for pecuniary interest.
What powers do the reporting persons claim over the 6,590,380 shares?
Each reporting person reports 0 sole voting/dispositive power and 6,590,380 in shared voting and shared dispositive power over the reported shares.
When was this Schedule 13G signed for CoinShares (CSHR)?
The document includes signatures dated 05/21/2026 and lists a date near the header of 05/14/2026 in the provided excerpt.
