Coinbase opens IPO access to eligible US retail customers

Coinbase Global opened IPO allocations to eligible US retail customers on Monday, beginning with Oura's debut this week. Customers can use the Coinbase app to visit the IPOs page, fund their accounts and submit a Conditional Offer to Buy after the price range becomes public. Requests are made at the IPO offer price before public trading begins. Final allocations depend on underwriter supply and total demand, so orders may be filled in full, partially or not at all. Selling IPO shares within the first 30 days can result in a 60-day ban from future IPO participation. Repeat sellers may receive smaller and less frequent allocations than investors who hold their shares longer. Coinbase Institutional co-CEO Brett Tejpaul said the launch expands how customers interact with assets across their full lifecycle without leaving the app. He said Coinbase was building toward a complete global financial platform and that broader IPO offerings moved it closer to that goal. The Block reported that Coinbase Capital Markets, a FINRA-registered broker-dealer, acts solely as an agent by routing orders through clearing partner Apex Clearing rather than underwriting deals. The move follows Coinbase's June launch of pre-IPO perpetual futures for SpaceX, which gave non-US users synthetic exposure to private companies through derivatives. The IPO feature involves a securities offering with actual share ownership. Coinbase also allows US customers to transfer existing stock portfolios to the platform and trade major stocks, indexes and exchange-traded funds. Earlier this month, Coinbase filed with the SEC seeking approval to list equity perpetuals. Coinbase shares rose 4.73% on the news, while the article's price analysis said COIN climbed 5% to $203.44 on Monday. The analysis said the stock broke above a year-long descending trendline from the January high near $260 and moved above its 200-day exponential moving average at $193.93 for the first time since the downtrend began. It said the stock had recorded eight months of lower highs. The relative strength index was 61.18, above its moving average and rising. The analysis identified $213.50 as key resistance and $183 as key support.