# EDGAR Filing Document

**Accession Number:** 0001979907
**File Stem:** 0001213900-26-029068
**Filing Date:** 2026-3
**Character Count:** 15799
**Document Hash:** 4064a53ba2768ed1f521e768150dc7c4
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001213900-26-029068.hdr.sgml**: 20260317

**ACCESSION NUMBER**: 0001213900-26-029068

**CONFORMED SUBMISSION TYPE**: SCHEDULE 13D/A

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20260317

**DATE AS OF CHANGE**: 20260317

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Metalpha Technology Holding Ltd
- **CENTRAL INDEX KEY:** 0001682241
- **STANDARD INDUSTRIAL CLASSIFICATION:** FINANCE SERVICES [6199]
- **ORGANIZATION NAME:** 09 Crypto Assets
- **EIN:** 000000000
- **STATE OF INCORPORATION:** K3

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-90113
- **FILM NUMBER:** 26761750

**BUSINESS ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** SUITE 5506-07, CENTRAL PLAZA
- **STREET 2:** 18 HARBOUR ROAD
- **CITY:** WAN CHAI
- **PROVINCE COUNTRY:** K3
- **BUSINESS PHONE:** 852 35652920

**MAIL ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** SUITE 5506-07, CENTRAL PLAZA
- **STREET 2:** 18 HARBOUR ROAD
- **CITY:** WAN CHAI
- **PROVINCE COUNTRY:** K3

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Dragon Victory International Ltd
- **DATE OF NAME CHANGE:** 20160812
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Wang Bingzhong
- **CENTRAL INDEX KEY:** 0001979907

**ORGANIZATION NAME:**

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D/A

**MAIL ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** 36A, TOWER 1, MAYA, 15TH SZE SHAN ST
- **STREET 2:** YAU TONG
- **CITY:** HONG KONG
- **PROVINCE COUNTRY:** K3

## Exhibit 99.5

**Exhibit 99.5**

**Share DONATION AND Transfer Agreement**

This Agreement is dated <u>3/13/2026</u>

**Parties**

(1) Hu Xianqun of Room 602 Tower 4, Langshi Green Jiequ Huijing Rd, Yuhuatai District, Nanjing, the People's
Republic of China (the "Donor **"**); and

(2) MetaSphere Limited, a company incorporated in Samoa with its registered office at Portcullis Chambers,
P.O. Box 1225, Apia, Samoa ()"**Donee"**).

**BACKGROUND**

(A) The Donor owns 3,049,912 Ordinary Shares (par value US$0.0001 per share) (the "**Shares** ")
of Metalpha Technology Holding Limited, a Cayman Islands exempted company whose ordinary shares are listed on the Nasdaq Stock Market
(the "**Company** ").

(B) The Donee is wholly-owned by Hu Xisha, daughter of the Donor, of 36A, Tower 1, Maya, 15th Sze Shan Street,
Yau Tong.

(C) The Donor wishes to transfer the Shares to the Donee as a gift for no consideration and the Donee wishes
to accept the Shares.

**Agreed terms**

1. Transfer of Shares

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.1 The
Donor hereby transfers to the Donee for no consideration all rights, title, interest and benefit in and to the Shares, effective as of
the date of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.2 The
Donee agrees to accept the Shares subject to all applicable transfer restrictions, and acknowledges that the Shares may not be resold
without registration under the U.S. Securities Act of 1933, as amended (the "Securities Act"), or an applicable exemption
therefrom.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.3 The
Donee acknowledges that the Shares may bear a restrictive legend and that the Company and its transfer agent may require customary documentation
before effecting any transfer.

2. US Securities Law Compliance

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1 Each
party acknowledges that the Company's ordinary shares are registered under Section 12 of the U.S. Securities Exchange Act of 1934, as
amended (the "Exchange Act), and listed on the Nasdaq Stock Market, and that the transfer of the Shares may give rise to reporting
and other obligations under US federal securities laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2 Section 16 Compliance. Each party shall be solely responsible
for determining whether it is subject to Section 16 of the Exchange Act with respect to the Company and, if so, for timely filing any
required reports on Forms 3, 4, or 5 with the U.S. Securities and Exchange Commission (the "SEC) in connection with this transfer.
Neither party shall have any liability to the other for any failure by such other party to comply with Section 16 reporting obligations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.3 Section 13 Compliance. Each party shall be solely responsible
for determining whether it is required to file any reports or amendments under Section 13 of the Exchange Act (including Schedules 13D
and 13G) in connection with this transfer, and for the timely filing of any such reports or amendments with the SEC. Neither party shall
have any liability to the other for any failure by such other party to comply with Section 13 reporting obligations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.4 Cooperation. Each party agrees to reasonably cooperate with
the other party and with the Company in connection with any securities law filings related to this transfer, including by providing information
reasonably requested for such filings; provided that neither party shall be required to incur any material expense or liability in connection
with such cooperation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.5 No Group Formation. Nothing in this Agreement shall be construed
to create a "group (within the meaning of Section 13(d)(3) of the Exchange Act) between the Donor and the Donee or any of their
respective affiliates with respect to the Company's securities.

3. Further Assurances

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1 The Donor shall instruct
the Company and its transfer agent to prepare the relevant corporate documents and/or book-entry transfers such that, as of the date
of this Agreement, the Donee is the registered owner of the Shares on the Company's books and records, and to take such further actions
as are necessary to give effect to this transfer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2 Each party shall execute
such other documents and do such other acts and things as may be reasonably required to give effect to this Agreement.

4. Representations and Warranties

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1 The Donor represents and warrants to the Donee that: (a)
the Donor has full power and authority to transfer the Shares; (b) except for potential restrictions under the Securities Act, the Shares
are free and clear of all liens, encumbrances, security interests, options, or other adverse claims; (c) the Donor is not in possession
of any material non-public information concerning the Company; and (d) this Agreement constitutes the legal, valid, and binding obligation
of the Donor, enforceable against the Donor in accordance with its terms.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2 The Donee represents and warrants to the Donor that: (a)
the Donee has full power and authority to enter into this Agreement; (b) the Donee is acquiring the Shares for its own account for investment
purposes and not with a view to distribution in violation of the Securities Act; and (c) this Agreement constitutes the legal, valid,
and binding obligation of the Donee, enforceable against the Donee in accordance with its terms.

5. General Provisions

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.1 Governing Law. This Agreement
shall be governed by and construed in accordance with the laws of Hong Kong, without regard to its conflicts of laws principles.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.2 Dispute Resolution. Any
dispute, controversy, difference or claim arising out of or relating to this Agreement, including the existence, validity, interpretation,
performance, breach or termination thereof or any dispute regarding non-contractual obligations arising out of or relating to it shall
be referred to and finally resolved by arbitration administered by the Hong Kong International Arbitration Centre (HKIAC) under the HKIAC
Administered Arbitration Rules in force when the notice of arbitration is submitted. The seat of arbitration shall be Hong Kong. The
number of arbitrators shall be one. The arbitration proceedings shall be conducted in English.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.3 Entire Agreement. This
Agreement constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior negotiations,
representations, warranties, and agreements between the parties with respect to such subject matter.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.4 Amendment. This Agreement
may not be amended, modified, or supplemented except by a written instrument signed by both parties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.5 Severability. If any provision
of this Agreement is held to be invalid or unenforceable, the remaining provisions shall continue in full force and effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.6 Waiver. No waiver of any
provision of this Agreement shall be effective unless in writing and signed by the waiving party. No failure or delay by any party in
exercising any right or remedy shall operate as a waiver thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.7 Counterparts. This Agreement
may be executed in any number of counterparts, each of which shall be deemed an original, and all of which together shall constitute
one and the same instrument.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.8 Electronic Signatures.
This Agreement may be executed and delivered by electronic signature (including PDF, DocuSign, or other electronic signature technology)
and such electronic signature shall have the same legal effect as an original ink signature.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.9 Notices. Any notice or
other communication required or permitted under this Agreement shall be in writing and shall be deemed given when delivered personally,
sent by email (with confirmation of receipt), or three (3) business days after being sent by internationally recognized overnight courier
to the addresses set forth above (or such other address as a party may designate in writing).

**In Witness Whereof, the parties have executed this Agreement as of the date first written above.**

---

| | |
|:---|:---|
| **Donor:** | **Donor:** |
| Signature: | /s/ hU XIANQUN |
| Name: | Hu Xianqun |

---

---

| | |
|:---|:---|
| **Donee:** | **Donee:** |
| MetaSphere Limited | MetaSphere Limited |
| By: | /s/ Hu Xisha |
| Name: | Hu Xisha |
| Title: | Sole Director |

---

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## SCHEDULE 13D

### Under the Securities Exchange Act of 1934

**(Amendment No. 2)**

**Metalpha Technology Holding Ltd**

*(Name of Issuer)*

**Ordinary Shares, Par Value US$0.0001 Per Share**

*(Title of Class of Securities)*

**—**

*(CUSIP Number)*

**Bingzhong Wang**<br>36A, Tower 1, Maya<br>15th Sze Shan St, Yau Tong<br>Hong Kong F4 000000<br>852 54143309

*(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)*

**03/13/2026**

*(Date of Event Which Requires Filing of this Statement)*

| **CUSIP No.** | **—** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Bingzhong Wang** | Name of reporting person<br>**Bingzhong Wang** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**PF** | Source of funds (See Instructions)<br>**PF** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**HONG KONG** | Citizenship or place of organization<br>**HONG KONG** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**3095910.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**3049912.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**3095910.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**3049912.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**6145822.00** | Aggregate amount beneficially owned by each reporting person<br>**6145822.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**13.0%** | Percent of class represented by amount in Row (11)<br>**13.0%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**IN** | Type of Reporting Person (See Instructions)<br>**IN** | |

---

**Comment for Reporting Person:** * Represents (i) 1,895,910 Ordinary Shares (as defined below) and (ii) 1,200,000 Ordinary Shares issuable upon exercise of the PIPE Warrants (as defined below).

** Represents 3,049,912 Ordinary Shares held by MetaSphere Limited ("MetaSphere" or the "Donee"), a company incorporated in Samoa and wholly owned by Ms. Xisha Hu, spouse of the Reporting Person. The Reporting Person disclaims beneficial ownership of any Ordinary Shares directly or indirectly owned by MetaSphere or Ms. Xisha Hu.

*** Percentage of class based on 47,113,236 Ordinary Shares outstanding as of January 12, 2026. In computing the percentage ownership of the reporting person, Ordinary Shares that the reporting person has the right to acquire within 60 days after March 17, 2026, including through the exercise of any option, warrant, or other right or the conversion of any other security, are included.

**Item 1. Security and Issuer**

**(a) Title of Class of Securities:**
Ordinary Shares, Par Value US$0.0001 Per Share

**(b) Name of Issuer:**
Metalpha Technology Holding Ltd

**(c) Address of Issuer's Principal Executive Offices:**
Suite 5506-07, Central Plaza, 18 Harbour Road, Wan Chai, Hong Kong, F4, 000000

Explanatory Note

This Amendment No. 2 (this "Amendment") amends and supplements the Schedule 13D filed with the Securities and Exchange Commission on June 7, 2023 (as amended, the "Schedule 13D"), relating to the Reporting Persons' ownership of ordinary shares, par value $0.0001 per share (the "Ordinary Shares"), of Metalpha Technology Holding Limited, an exempted company with limited liability incorporated in the Cayman Islands (previous name: Dragon Victory International Limited, the "Issuer").

Unless set forth below, all previous Items set forth in the Schedule 13D remain unchanged. Capitalized terms used herein and not defined have the meanings given to them in the Schedule 13D.

This Amendment is being filed to update the disclosure in Item 3, Item 6 and Item 7.

**Item 6. Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer.**

Item 6 of the Schedule 13D is hereby amended and supplemented as follows:

The information set forth in Item 3 in this Amendment is hereby incorporated by reference in its entirety in this Item 6.

### 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.

**Reporting Person:** Bingzhong Wang

**Signature:** /s/ Bingzhong Wang

**Name/Title:** Bingzhong Wang

**Date:** 03/17/2026