Coinbase Opens IPO Access for Eligible US Customers with Actual Equity

Coinbase has launched an IPO access product for eligible US customers, allowing them to request shares at the offer price. This is different from their previous pre-IPO derivatives, which provided synthetic exposure but no actual equity.

The new product lets users submit a request before open-market trading starts, and if allocated shares, they can buy at the final IPO price. If successful, applicants will receive actual common stock and become shareholders after settlement.

Coinbase has partnered with Oura, a smart-ring maker, for its first available offering. Existing holders are selling 73% of the base deal, while Oura is selling only 27%. The expected IPO price range is $40-$44 per share.