Polar holds 8.6% of Insight Digital Partners II (DYOR)

Rhea-AI Filing Summary

Polar Asset Management Partners Inc. reported beneficial ownership of 1,499,000 Class A ordinary shares of Insight Digital Partners II, representing 8.6% of the class as of December 31, 2025. Polar has sole voting and dispositive power over these shares, which are directly held by Polar Multi-Strategy Master Fund, a Cayman Islands exempted company.

Polar is a Canadian investment fund manager and adviser registered with the Ontario Securities Commission and states that the shares were acquired and are held in the ordinary course of business, not for changing or influencing control of the issuer.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Insight Digital Partners II

(Name of Issuer)

Class A ordinary shares, par value $0.0001 per share

(Title of Class of Securities)

G4814G105

(CUSIP Number)

12/31/2025

(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)

SCHEDULE 13G

CUSIP No. G4814G105

1

Names of Reporting Persons

Polar Asset Management Partners Inc.

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

ONTARIO, CANADA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 1,499,000.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 1,499,000.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,499,000.00

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)

8.6 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Insight Digital Partners II
(b)	Address of issuer's principal executive offices: 17 State Street, Suite 4000, New York, New York, 10004
Item 2.
(a)	Name of person filing: This statement is filed by Polar Asset Management Partners Inc., a company incorporated under the laws of Ontario, Canada, which serves as the investment advisor to Polar Multi-Strategy Master Fund, a Cayman Islands exempted company ("PMSMF") with respect to the shares directly held by PMSMF.
(b)	Address or principal business office or, if none, residence: 16 York Street, Suite 2900, Toronto, Ontario, M5J 0E6
(c)	Citizenship: Canada
(d)	Title of class of securities: Class A ordinary shares, par value $0.0001 per share
(e)	CUSIP No.: G4814G105
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).
	The Reporting Person is an investment fund manager, portfolio manager, exempt market dealer and commodity trading manager registered with the Ontario Securities Commission.
Item 4.	Ownership
(a)	Amount beneficially owned: 1499000
(b)	Percent of class: 8.6 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 1499000
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 1499000
	(iv) Shared power to dispose or to direct the disposition of: 0
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.
	Not Applicable
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 acquired and are held in the ordinary course of business and 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.

Polar Asset Management Partners Inc.

Signature:	Andrew Ma
Name/Title:	Chief Compliance Officer
Date:	02/17/2026

FAQ

What stake in Insight Digital Partners II (DYOR) does Polar report?

Polar Asset Management Partners Inc. reports beneficial ownership of 1,499,000 Class A ordinary shares, representing 8.6% of the class as of December 31, 2025. This positions Polar as a significant shareholder above the 5% disclosure threshold.

Who is the reporting person in the Insight Digital Partners II Schedule 13G?

The reporting person is Polar Asset Management Partners Inc., a company incorporated under the laws of Ontario, Canada. It serves as investment adviser to Polar Multi-Strategy Master Fund, which directly holds the Insight Digital Partners II Class A ordinary shares.

Does Polar have sole voting and dispositive power over DYOR shares?

Yes. Polar reports sole power to vote and dispose of 1,499,000 Class A ordinary shares and no shared power. This means all reported voting and investment decisions for these shares are controlled solely by Polar, through its advisory role.

Are Polar’s Insight Digital Partners II shares held to influence control?

Polar certifies the securities were acquired and are held in the ordinary course of business and not for the purpose or effect of changing or influencing control of Insight Digital Partners II, consistent with a passive Schedule 13G filing.

How is Polar classified as an institution in this Schedule 13G?

Polar is described as an investment fund manager, portfolio manager, exempt market dealer, and commodity trading manager registered with the Ontario Securities Commission. This aligns with treatment as an investment adviser under the relevant beneficial ownership rules.

Where is Insight Digital Partners II headquartered according to the filing?

Insight Digital Partners II’s principal executive offices are listed at 17 State Street, Suite 4000, New York, New York, 10004. This address identifies the issuer’s main business location for regulatory and investor reference purposes.