Coinbase Opens IPO Allocations To US Retail Traders Starting With Oura

Coinbase has added initial public offerings (IPOs) to the suite of financial products available inside its app. The service is provided by Coinbase Capital Markets, a FINRA‑registered broker‑dealer, and is limited to eligible U.S. retail customers.

First IPO Available: Oura

The inaugural offering on the platform is Oura. Eligible users can submit a Conditional Offer to Buy at the IPO price before the shares begin trading on the open market. Submission does not guarantee allocation; shares are assigned based on availability and eligibility checks.

Allocation Rules and Holding Incentive

Coinbase’s allocation process includes a 30‑day holding incentive. Users who sell allocated IPO shares within 30 days may be barred from participating in future IPOs for 60 days, a measure intended to discourage immediate flipping.

Broader Strategic Context

The launch reflects Coinbase’s expansion beyond spot cryptocurrency trading into areas traditionally served by retail brokerages. While Coinbase facilitates access to the IPO, it does not act as an underwriter and does not guarantee that every request will result in shares.

Eligibility and Availability

Participation is restricted to customers who pass required eligibility checks. Availability is not universal across all U.S. residents, and allocations remain subject to the platform’s internal process.