Coinbase Investors Who Sold Before The Crash

According to records posted on Monday, Jupiter Asset Management, Azora Capital LP, and billionaire Jon Yarbrough’s family office were among the funds who sold all of their shares in cryptocurrency business Coinbase Global Inc before the company plunged over 30% to record lows in early May.

Coinbase Investors Who Sold Before The Crash

Coinbase, the largest cryptocurrency exchange platform in the United States, slumped after missing profit projections and reporting lower trading volumes as bitcoin’s value plunged to 17-month lows. The company’s stock dropped 3.6 percent on Monday, bringing its year-to-date loss to 74 percent.

Cathie Wood’s ARK Innovation fund, on the other hand, continued to add to its holding in Coinbase during the same time, according to the filings. According to regulatory filings, Jupiter Asset Management sold 73,441 shares of the business in the financial year Ending march 31, while Azora Capital released 43,290 shares and Yarbrough Capital sold 16,968.

In the meantime, Tiger Global reduced its position in the firm by around 70%, leaving it with 836,597 shares. Although they are backward-looking and do not indicate current positions, securities filings known as 13-Fs are one of the few public ways to view what hedge funds and other institutional investors own in their portfolios.

According to regulatory filings, Wood’s ARK Innovation ETF added slightly more than 1.5 million shares of Coinbase in the first quarter, the largest of any fund. At the end of March, the fund had little under 7 million shares. The company’s stock is the tenth most valuable in the market.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Jai Hamid

CoinCu News

Coinbase Investors Who Sold Before The Crash

According to records posted on Monday, Jupiter Asset Management, Azora Capital LP, and billionaire Jon Yarbrough’s family office were among the funds who sold all of their shares in cryptocurrency business Coinbase Global Inc before the company plunged over 30% to record lows in early May.

Coinbase Investors Who Sold Before The Crash

Coinbase, the largest cryptocurrency exchange platform in the United States, slumped after missing profit projections and reporting lower trading volumes as bitcoin’s value plunged to 17-month lows. The company’s stock dropped 3.6 percent on Monday, bringing its year-to-date loss to 74 percent.

Cathie Wood’s ARK Innovation fund, on the other hand, continued to add to its holding in Coinbase during the same time, according to the filings. According to regulatory filings, Jupiter Asset Management sold 73,441 shares of the business in the financial year Ending march 31, while Azora Capital released 43,290 shares and Yarbrough Capital sold 16,968.

In the meantime, Tiger Global reduced its position in the firm by around 70%, leaving it with 836,597 shares. Although they are backward-looking and do not indicate current positions, securities filings known as 13-Fs are one of the few public ways to view what hedge funds and other institutional investors own in their portfolios.

According to regulatory filings, Wood’s ARK Innovation ETF added slightly more than 1.5 million shares of Coinbase in the first quarter, the largest of any fund. At the end of March, the fund had little under 7 million shares. The company’s stock is the tenth most valuable in the market.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page

Jai Hamid

CoinCu News

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