Coinbase Brings IPO Access to US Customers via Mobile App
Coinbase has taken a significant step towards becoming an 'Everything Exchange' by opening IPO allocations to eligible US retail investors. The move allows customers to request shares in selected IPOs at the offer price before they begin trading on public markets.
The service, offered through Coinbase Capital Markets, the company's FINRA-registered broker-dealer, launched with Oura's IPO, set for later this week. Eligible customers can access active IPO deals through a new IPOs page in the Coinbase app.
Customers who intend to hold their IPO shares longer will have priority in the allocation system. Those who sell IPO shares within 30 days may face a 60-day participation ban, while repeat early sellers risk smaller and less frequent allocations.
Coinbase Capital Markets acts purely as an agent on behalf of customers, not taking the opposite side of trades. The company plans to expand the number of IPO opportunities available as additional selling-group allocations become accessible.