Coinbase Opens IPO Share Allocations to U.S. Retail Customers

Coinbase launches IPO share access for U.S. retail customers

Coinbase is opening IPO share allocations to eligible U.S. retail customers through its app, marking a significant step in the exchange's push into traditional investing. The service will debut with smart-ring maker Oura's planned Nasdaq listing.

According to a Monday announcement, eligible U.S. customers can request Oura shares at the IPO price through the Coinbase app before public trading begins.

Key numbers

• Oura plans to list on Nasdaq under the ticker "OURA"
• The company is offering 50 million shares
• The expected price range is $40 to $44 per share

How customers can participate

To take part, customers select an offering through the IPO page in the Coinbase app, fund their accounts, and submit a "Conditional Offer to Buy" after the expected price range is published. They must also complete a standard FINRA questionnaire to screen for restricted status.

An order does not guarantee an allocation. Requests may be filled in full, partially filled, or rejected, depending on demand and the number of shares Coinbase receives from underwriters. Customers can revise or cancel their requests while the order book is open.

Coinbase prioritizes long-term holders

Coinbase said its allocation system favors investors who hold their shares. Selling IPO shares within the first 30 days may result in being barred from IPO participation for the following 60 days, with smaller and less frequent allocations given to those who repeat this behavior compared to investors who hold shares for longer periods.

Coinbase emphasized that its securities business is separate from the digital-asset services offered by Coinbase Inc.

Part of Coinbase's broader expansion

The IPO rollout is the latest step in Coinbase's push beyond crypto trading. The company recently filed to offer U.S. perpetual futures tied to stocks including Apple, Tesla, and Nvidia, though those contracts would provide price exposure rather than ownership.

Coinbase has also launched tokenized stocks for eligible users outside the U.S., secured authorization to offer stocks and derivatives in the UK, and outlined plans to bring its mix of stocks, crypto, and prediction markets to customers in Canada. Together, the products form part of Coinbase's effort to become what it calls the "Everything Exchange."

"We're focused on growing the Everything Exchange for our customers," a Coinbase spokesperson told Decrypt. "A natural step in that direction is to give our customers in the US early exposure to high-interest companies before they hit public exchanges."

What is still unclear

It is not yet confirmed how many shares Coinbase will receive from underwriters for Oura or what the final allocation to individual customers will look like.

Sources

• Decrypt

Read also: Coinbase Opens IPO Allocations to US Retail Investors Starting With Oura