Coinbase opens IPO allocations to US customers, starting with Oura

Coinbase (COIN) is giving eligible U.S. retail customers access to IPO allocations through its app, starting with Oura's debut this week.

Customers can request shares at the IPO offer price before trading begins, with allocations potentially being full, partial, or none depending on demand.

"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 exchange said in a Monday blog post.

The launch expands Coinbase's push beyond crypto and secondary-market stock trading into the primary market, following its earlier rollout of pre-IPO derivatives.

In June, Coinbase launched pre-IPO perpetual futures, starting with SpaceX, giving eligible non-U.S. users synthetic exposure to private companies before they went public. Those are derivatives providing price exposure and do not represent ownership of the private company. Today's product is a securities offering through Coinbase Capital Markets, with Apex providing execution, clearing, and custody.

Coinbase said it was expanding into stocks, options, and other traditional-market products. It specifically said U.S. customers could transfer existing stock portfolios to Coinbase and trade major stocks, indexes, and ETFs.

Earlier this month, the crypto exchange filed a notice registration form with the Securities and Exchange Commission to get sign-off to begin listing equity perpetuals.