Coinbase Stock Soars 6% as Bitcoin Hits $85,000 and IPO Access Expands

Coinbase's stock jumped about 6% on Monday as Bitcoin pushed above $85,000 and crypto-linked stocks rallied.

The company announced that it is launching IPO access for eligible U.S. retail customers through its registered broker-dealer platform, Coinbase Capital Markets.

The new service allows customers to request allocations in initial public offerings, starting with Oura's IPO this week.

Coinbase customers can select an active IPO, fund their account, and submit a Conditional Offer to Buy once the price range is available.

Orders can be changed or canceled while the request period remains open, but allocations are not guaranteed.