Coinbase Brings IPO Shares to US Retail Traders, With Oura Up First

In brief

• Coinbase is opening IPO allocations to eligible U.S. retail customers through its app.
• Smart-ring maker Oura will be the first company offered through the service.
• Customers who quickly sell allocated shares could lose access to subsequent offerings.

Coinbase is making a bigger play for retail investors by adding IPO share allocations to its expanding lineup of traditional investments. The crypto exchange will open the service to eligible U.S. customers this week with smart-ring maker Oura’s planned Nasdaq debut.

According to a Monday announcement, eligible U.S. customers can request Oura shares at the IPO price through the Coinbase app before public trading begins this week.

“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,” the company said in a statement.

While Coinbase did not disclose why it chose to start with Oura, the launch comes as the smart-ring maker prepares to list on Nasdaq under the ticker “OURA,” offering 50 million shares at an expected price of $40 to $44 each.

To participate, Coinbase said, customers select an offering through the IPO page in Coinbase’s app, fund their accounts, and submit a “Conditional Offer to Buy” after the expected price range is published. They must also complete a standard FINRA questionnaire used to screen for restricted status.