Kraken Gives Retail Investors Access to Jersey Mike's Tokenized Shares

Crypto exchange Kraken is making it possible for retail investors to buy into Jersey Mike's initial public offering (IPO) through tokenized shares and direct allocations.

The company, which has over 3,300 locations in the US, plans to price its IPO between $21 and $25 per share and list on the New York Stock Exchange under the ticker JMKE.

Eligible US customers can submit interest in book-entry Jersey Mike's shares at the IPO price, while global customers can request JMKEx, a tokenized version of the stock with backing shares held in regulated custody.

The underlying Jersey Mike's shares will trade during regular US market hours, while JMKEx will begin trading 24/5 on Kraken and participating xStocks Alliance platforms once the IPO closes.