Coinbase has launched a feature allowing eligible U.S. retail customers to request shares in initial public offerings at the IPO price before they trade publicly. The service begins with smart-ring maker Oura's Nasdaq debut.
The move expands Coinbase's offerings beyond crypto and aims to capture more retail investor activity by providing early access to potentially high-growth companies.
Coinbase has launched a feature allowing eligible U.S. retail customers to request shares in initial public offerings at the IPO price before they trade publicly. The service, beginning with smart-ring maker Oura's Nasdaq debut this week, is facilitated through Coinbase Capital Markets (CCM), the company's FINRA-registered broker-dealer.
According to Coinbase, its allocation algorithm prioritizes investors who intend to hold shares long-term. The company warned that users selling IPO shares within 30 days of receiving allocations may be barred from future opportunities for 60 days. Coinbase plans to expand access to more IPOs as they become available.
Coinbase's stock (COIN) gained 5% at market open, trading around $204, and has risen over 13% in the past month.
Pick the topics you care about. Get only what matters, on your cadence.