Coinbase Launches IPO Access for U.S. Users Ahead of Oura, Anthropic Listings

Crypto exchange Coinbase has launched IPO access for its U.S. retail customers, starting with the Oura public listing. This also comes ahead of the much-anticipated Anthropic IPO, while the COIN stock has surged amid the company’s latest move toward becoming the ‘Everything Exchange.’

Ad

Ad

Coinbase Launches IPO Access For U.S. Users Starting With Oura IPO

In a blog post, the crypto exchange announced it will begin providing IPO allocations to U.S. retail traders, starting with the Oura IPO this week. Users will be able to request shares at the offer price before open market trading begins.

“This new feature is yet another step toward growing the Everything Exchange, as our US customers now gain early exposure to high-interest companies before they hit public exchanges,” Coinbase said. The top crypto exchange will offer this service through Coinbase Capital Markets (CCM), its FINRA-registered broker-dealer.

The exchange also said its allocation algorithm will prioritize investors likely to hold long term. As such, it warned that users who sell IPO shares within the first 30 days of receiving their allocations may be barred for the following 60 days. Meanwhile, investors who repeat this action may receive smaller and less frequent allocations than those who hold their IPO shares longer.

Coinbase added that it plans to offer access to more IPOs as more allocations become available. Notably, this offering comes ahead of the Anthropic IPO, with the AI firm eyeing a valuation of up to $2 trillion, which could become the largest in U.S. history.

Ad

Ad

COIN Stock Rises Over 5% At Market Open

The COIN stock has rallied over 5% at the market open amid the exchange’s launch of this latest offering. The stock is currently trading at around $204, according to TradingView data. The stock is also up over 13% in the past month.

The Coinbase stock has also rallied amid the latest crypto market recovery, with Bitcoin hitting $85,000 for the first time since January. Other crypto stocks such as HOOD, BMNR, MSTR, and CRCL have also rallied, with the Strategy stock now up over 7% year-to-date (YTD).

The latest crypto market rally comes despite the failed CLARITY Act cloture vote. The crypto bill is expected to provide a huge boost for crypto firms by providing a comprehensive market framework that could attract more investors and users to the industry.