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Jupiter, Yarbrough amongst financiers who offered Coinbase prior to huge fall

People enjoy as the logo design for Coinbase Global Inc, the greatest U.S. cryptocurrency exchange, is shown on the Nasdaq MarketSite jumbotron at Times Square in New York, U.S., April 14,2021 REUTERS/Shannon Stapleton

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NEW YORK, May 16 (Reuters) – Jupiter Asset Management, Azora Capital LP and billionaire Jon Yarbrough’s household workplace were amongst funds that offered all of their stakes in cryptocurrency business Coinbase Global Inc ( COIN.O) prior to the business fell almost 30% to tape-record lows in early May, according to filings launched on Monday.

But over the exact same duration – the quarter ended March 31 – Cathie Wood’s ARK Innovation fund continued to contribute to its position in Coinbase, the filings revealed.

Coinbase, the biggest crypto exchange in the United States, toppled after the business missed out on revenues quotes and reported decreasing trading volumes as the worth of bitcoin fell near 17- month lows. Shares of the business fell 3.6% on Monday and are now down 74% for the year to date. find out more

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Jupiter Asset Management offered 73,441 shares of the business in the quarter that ended March 31, while Azora Capital offered 43,290 shares and Yarbrough Capital offered 16,968, according to securities filings.

Tiger Global, on the other hand, cut its stake by around 70%, leaving it with 836,597 shares in the business.

Securities filings called 13- Fs are among the couple of public methods to see what hedge funds and other institutional financiers keep in their portfolios, though they are backward-looking and do not expose existing positions.

ARK Innovation ( ARKK.P), the ETF run by Wood, included somewhat more than 1.5 million shares of Coinbase throughout the quarter, one of the most of any fund, according to securities filings. The fund owned somewhat less than 7 million shares at the end of March. Shares of the business comprise its 10 th-largest position. learn more

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Reporting by David Randall in New York Editing by Matthew Lewis

Our Standards: The Thomson Reuters Trust Principles.

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