CoinShares PLC
CSHR, CSHRW · Security Brokers, Dealers & Flotation Companies · EDGAR filings ↗
Grade
D50Newly formed holding entity for the CoinShares crypto asset-management combination, with sparse financials, negative equity and prior going-concern doubt.
Strengths
- Underlying CoinShares (CSIL) is an established digital-asset manager with diversified, fee-based revenues
- Business combination completed, providing access to trust and PIPE proceeds
Risks
- Negative book equity (debt/equity -19.9, 10th pct), thin standalone cash and prior substantial-doubt going-concern language
- Highly crypto-volatile revenue/AUM, evolving regulation and very limited reported metrics
Notable findings
- Going concernAccordingly, there was material uncertainty related to events or conditions that cast substantial doubt on the Company’s ability to continue as a going concern, and therefore it may have been unable t
- Negative equityNegative book equity (debt/equity -19.95)
Key metrics
Debt / equity
-19.9×
Tangible book value
-$1M
Cash & investments
$30M
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-03-31 | Mognetti Jean-Marie | Other | 21.7M | — |
| 2026-03-31 | Nash Richard Stephen | Other | 97K | — |
| 2026-03-31 | Masters Daniel | Other | 21.6M | — |
All non-derivative Form 4 activity (SEC), newest first.
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 20-F | 2026-04-30 | 2025-12-31 | 0001213900-26-050434 ↗ |
| 20-F | 2026-03-31 | 2026-03-31 | 0001213900-26-037615 ↗ |