diff --git a/modules/bitgo/test/v2/unit/wallet.ts b/modules/bitgo/test/v2/unit/wallet.ts
index 81013ade88..95bff09e69 100644
--- a/modules/bitgo/test/v2/unit/wallet.ts
+++ b/modules/bitgo/test/v2/unit/wallet.ts
@@ -1994,6 +1994,37 @@ describe('V2 Wallet:', function () {
       createShareNock.isDone().should.be.True();
     });
 
+    it('should share wallet when key fetch returns 404 (cold wallet with missing key records)', async function () {
+      const userId = '123';
+      const email = 'shareto@sdktest.com';
+      const permissions = 'view,spend';
+
+      const getSharingKeyNock = nock(bgUrl).post('/api/v1/user/sharingkey', { email }).reply(200, { userId });
+
+      // Simulate cold storage wallets where key records do not exist on the backend (404)
+      const getKeyNock = nock(bgUrl)
+        .get(`/api/v2/tbtc/key/${coldWallet.keyIds()[0]}`)
+        .reply(404, { error: 'key not found' })
+        .get(`/api/v2/tbtc/key/${coldWallet.keyIds()[1]}`)
+        .reply(404, { error: 'key not found' })
+        .get(`/api/v2/tbtc/key/${coldWallet.keyIds()[2]}`)
+        .reply(404, { error: 'key not found' });
+
+      const createShareNock = nock(bgUrl)
+        .post(`/api/v2/tbtc/wallet/${coldWallet.id()}/share`, {
+          user: userId,
+          permissions,
+          skipKeychain: true,
+        })
+        .reply(200, {});
+
+      await coldWallet.shareWallet({ email, permissions });
+
+      getSharingKeyNock.isDone().should.be.True();
+      getKeyNock.isDone().should.be.True();
+      createShareNock.isDone().should.be.True();
+    });
+
     describe('Hot Wallet Sharing', function () {
       const userId = '123';
       const email = 'shareto@sdktest.com';
diff --git a/modules/sdk-core/src/bitgo/wallet/wallet.ts b/modules/sdk-core/src/bitgo/wallet/wallet.ts
index 91a2ba63da..68ed106910 100644
--- a/modules/sdk-core/src/bitgo/wallet/wallet.ts
+++ b/modules/sdk-core/src/bitgo/wallet/wallet.ts
@@ -26,6 +26,7 @@ import { BitGoBase } from '../bitgoBase';
 import { getSharedSecret } from '../ecdh';
 import {
   AddressGenerationError,
+  ApiResponseError,
   IncorrectPasswordError,
   MethodNotImplementedError,
   MissingEncryptedKeychainError,
@@ -1714,7 +1715,18 @@ export class Wallet implements IWallet {
 
       const params = { id: this._wallet.keys[index] };
 
-      const keychain = await this.baseCoin.keychains().get(params);
+      let keychain: Keychain;
+      try {
+        keychain = await this.baseCoin.keychains().get(params);
+      } catch (e) {
+        // A 404 means the key record does not exist on the server (e.g. cold wallet keys
+        // or KMS-backed keys that have no keychain entry). Treat this the same as a key
+        // without an encryptedPrv and try the next one.
+        if (e instanceof ApiResponseError && e.status === 404) {
+          return tryKeyChain(index + 1);
+        }
+        throw e;
+      }
       // If we find the prv, then this is probably the user keychain we're looking for
       if (keychain.encryptedPrv) {
         return keychain as KeychainWithEncryptedPrv;