Coinbase opens IPO access to eligible US retail investors, starting with Oura

Eligible US retail Coinbase customers can now request allocations in initial public offerings inside the Coinbase app. The service operates through Coinbase Capital Markets, a FINRA-registered broker-dealer. Oura is the first IPO available on the platform.

How participation works

Users submit a Conditional Offer to Buy at the IPO offer price before public trading begins. Allocation is not guaranteed: shares depend on availability, eligibility checks, and the platform’s allocation process. Coinbase applies controls that favor longer holding: selling allocated shares within 30 days can trigger a 60-day lockout from future IPO participation.

Scope and limitations

The feature expands Coinbase beyond spot crypto into retail brokerage territory but does not make Coinbase an underwriter. Access is limited to eligible US retail customers and should not be considered universally available to all US residents.

Source: Primary Source