Coinbase Gives Retail Investors Direct Access to IPO Shares
Coinbase is expanding access to primary financial markets for US retail investors. The exchange is now giving eligible customers direct access to IPO shares in its app, starting with Oura's recent listing.
US retail traders can request shares at the offer price before public trading begins by navigating to a new IPOs page in the app, funding their account, and submitting a 'Conditional Offer to Buy' once the price range is available.
Allocations are handled by Coinbase Capital Markets, a FINRA-registered broker-dealer that routes orders through clearing partner Apex Clearing. Shares are booked at the IPO price, though final amounts may be full, partial or zero depending on supply and demand.
Coinbase prioritizes investors planning to hold long term and warns that selling within the first 30 days can lead to a 60-day ban from future IPO access and smaller allocations afterward. All users must complete a FINRA eligibility questionnaire, and Coinbase Capital Markets does not underwrite deals, hold inventory or take the opposite side of trades.