Coinbase launches IPO access for US retail investors

Coinbase is launching IPO access for US investors, the crypto exchange said in a release on Monday. Coinbase has officially expanded into the primary financial markets, allowing eligible U.S. retail investors to request pre-market share allocations for upcoming IPOs directly within its app. The rollout begins with smart-ring manufacturer Oura’s IPO.

The move comes as crypto platforms expand into traditional markets. Kraken’s parent Payward has moved to give retail investors access to selected US IPOs, while Coinbase has expanded into US stock trading for UK users and received FCA approval to offer stocks and derivatives. The move fueled a big jump for Coinbase stock as well, with COIN moving 5% higher on Monday.

Per a press release from Coinbase, customers must fund their accounts before submitting a “Conditional Offer to Buy”. Allocations depend on available shares and total demand, so requests can be filled fully, partially, or not at all. Shares will become tradable on Coinbase once public-market trading begins.

Furthermore, the new IPO access is provided through Coinbase Capital Markets, a FINRA-registered broker-dealer. CCM will participate in IPOs as a best-efforts selling-group member, aggregate customer orders and route them through Apex Clearing Corporation.