Coinbase is expanding its offerings beyond cryptocurrency by opening IPO share allocations to eligible U.S. retail customers through its platform. Smart-ring maker Oura will be the first company offered through the service ahead of its planned Nasdaq debut this week.
According to an announcement, eligible U.S. customers can request Oura shares at the IPO price through the Coinbase app before public trading begins. Oura is planning to list on Nasdaq under the ticker "OURA," offering 50 million shares at an expected price of $40 to $44 each.
How the IPO Allocation Process Works
To participate, customers must select an offering through the IPO page in the Coinbase app, fund their accounts, and submit a "Conditional Offer to Buy" after the expected price range is published. Customers must also complete a standard FINRA questionnaire used to screen for restricted status.
An order does not guarantee an allocation. Requests may be filled in full, partially filled, or rejected depending on demand and the number of shares Coinbase receives from underwriters. Customers can revise or cancel their requests while the order book is open, and allocated shares become tradable when public trading begins at the final IPO price.
Holding Requirements for Future Access
Coinbase said its allocation system prioritizes investors who hold their shares long-term. Selling IPO shares within the first 30 days may result in being barred from IPO participation for the following 60 days. Investors who repeat this behavior receive smaller and less frequent allocations compared to those who hold their IPO shares for longer durations.
Expanding Beyond Crypto
The IPO rollout represents the latest expansion of Coinbase beyond cryptocurrency trading. The company recently filed to offer U.S. perpetual futures tied to stocks including Apple, Tesla, and Nvidia. Coinbase has also launched tokenized stocks for eligible users outside the U.S., secured authorization to offer stocks and derivatives in the UK, and outlined plans to bring its offerings to customers in Canada. The company describes this broader strategy as part of building the "Everything Exchange."
