Coinbase Launches IPO Access for U.S. Retail Investors

Coinbase has expanded beyond cryptocurrency trading by launching IPO access for U.S. retail customers, beginning with the Oura public offering. The move marks another step in the crypto exchange’s strategy to build what it calls the “Everything Exchange,” while Coinbase stock (COIN) climbed more than 5% following the announcement.

Through Coinbase Capital Markets (CCM), its FINRA-registered broker-dealer, eligible U.S. customers can request IPO shares at the offering price before the stock begins trading publicly. Oura will be the first company available through the new service this week.

Coinbase said the feature is designed to give retail investors earlier access to highly sought-after companies. The exchange also plans to add more IPO opportunities as allocations become available.

Its allocation system will favor investors considered more likely to hold their shares for longer periods. Customers who sell allocated IPO shares within 30 days could be restricted from participating in new offerings for 60 days. Repeated early selling may also result in smaller or less frequent future allocations.

The IPO rollout arrives ahead of the anticipated Anthropic public listing. The artificial intelligence company is reportedly targeting a valuation of as much as $2 trillion, potentially making its offering one of the largest IPOs in U.S. history.

Coinbase shares rose more than 5% at Monday’s market open to around $204, according to TradingView data. COIN has gained more than 13% over the past month.

The stock’s advance also coincided with a broader cryptocurrency market recovery. Bitcoin climbed to $85,000 for the first time since January, while crypto-linked stocks including Robinhood, BitMine Immersion Technologies, Strategy and Circle also moved higher.

The market rebound comes despite the failed Senate cloture vote on the CLARITY Act. The proposed legislation remains closely watched by the crypto industry because it seeks to establish a more comprehensive U.S. regulatory framework for digital assets.