Coinbase announced the launch of access to initial public offering (IPO) allocations for retail investors in the United States, available directly through its mobile app.
The initiative launched with the IPO of Oura, which allowed exchange customers to request shares at the offering price before trading begins on open markets, a crucial service expansion toward what the company calls the “Everything Exchange“.
The new service operates through Coinbase Capital Markets (CCM), the broker-dealer registered with FINRA that acts as a selling member in placement syndicates. CCM aggregates customer orders and channels them through Apex Clearing Corporation, without underwriting transactions or taking proprietary positions.
Final allocations depend on underwriter supply and total demand, meaning orders may be filled in full, partially, or not at all.
Coinbase incorporates a mechanism that discourages immediate selling: those who liquidate shares within the first 30 days are barred from participating in IPOs for the following 60 days, with additional penalties for those who repeat that behavior.
Source: https://www.coinbase.com/es-la/blog/you-can-now-participate-in-ipos-on-coinbase
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