Significant Accounting Policies (Tables) - Coinshares International Limited [Member]

12 Months Ended

Dec. 31, 2025

Significant Accounting Policies (Tables) [Line Items]

Schedule of Digital Asset Receivables

Digital asset receivables was made up of the following balances:

	As of December 31,
	2025		2024
Digital asset loans, net of allowance for expected credit losses of $760 and $1,902, respectively	$	69,772	$	197,300
Stablecoins		8,198		5,063
Digital asset perpetuals and futures – digital asset settled		30,124		2,129
Other		423		1,400
Total digital asset receivables	$	108,517	$	205,892

Schedule of Amortization of Intangible Assets

Amortization is provided on the following basis:

Fee generating contracts (annuity method)	10 years
Software	3 – 5 years