Key facts
- Coinbase has launched IPO access for U.S. retail customers, beginning with the Oura IPO.
Crypto exchange Coinbase has launched an IPO access feature for its U.S. retail customers, starting with the Oura public listing. The move, which also precedes the anticipated Anthropic IPO, saw Coinbase's stock (COIN) rise over 5% at market open.
Coinbase's expansion into IPO access aims to solidify its position as an 'Everything Exchange,' potentially attracting more users and capital to its platform. The move could also increase competition in the IPO market and provide retail investors with earlier access to high-profile listings.
Crypto exchange Coinbase has launched an IPO access feature for its U.S. retail customers, allowing them to request shares at the offer price before open market trading begins. The service, starting with the Oura IPO this week, is facilitated through Coinbase Capital Markets (CCM), the company's FINRA-registered broker-dealer.
Coinbase stated that its allocation algorithm will prioritize investors likely to hold shares long-term, warning that users who sell IPO shares within 30 days of receiving allocations may be barred from future opportunities for 60 days. The exchange plans to expand access to more IPOs as they become available.
The move comes ahead of the anticipated IPO of AI firm Anthropic, which is reportedly eyeing a valuation of up to $2 trillion. The launch also coincides with a broader recovery in the crypto market, with Bitcoin reaching $85,000 for the first time since January. Coinbase's stock (COIN) surged over 5% at market open, trading around $204, and is up over 13% in the past month.
Pick the topics you care about. Get only what matters, on your cadence.