Coinbase offers access to IPO allocations

Coinbase has launched IPO allocations for eligible US retail customers via Coinbase Capital Markets, starting with Oura's offering.

Customers can request shares at the offer price before open-market trading begins. Oura's IPO, scheduled to begin on September 21, 2026, the same week the announcement was made, is the first deal available.

The launch extends the company's activity into primary financial markets and is part of its 'Everything Exchange' strategy. Under this approach, Coinbase aims to give US customers exposure to companies before their shares reach public exchanges, rather than only after listing.

How the allocation process works

Requests are managed in the Coinbase app, where a new IPOs page lists active deals. Customers select a deal page and fund their account to cover the cost of the shares they want. Once the expected price range for the offering is public, they can submit a 'Conditional Offer to Buy'.

Offers can be edited or cancelled throughout the open period. However, if the price changes beyond a set limit, customers must resubmit their request to stay in the running for an allocation.

After the order book closes, Coinbase allocates available shares using what it describes as an established methodology and books them into customer accounts at the IPO price. Final allocations depend on underwriter supply and total customer demand, so requests may be filled in full, in part, or not at all. Allocated shares become tradable on Coinbase as soon as public market trading in the stock begins.