TLDR: Coinbase now lets eligible US retail users request IPO shares at the offer price through its app. Allocations may be filled in full, in part, or not at all, based on underwriter supply
Coinbase IPO access is now open to eligible US retail investors through the Coinbase app. The company announced the launch on September 21, 2026, starting with Oura’s initial public offering.
Users can request shares at the offering price before open-market trading begins. However, allocations may be filled in full, in part, or not at all.
Coinbase Capital Markets, a FINRA-registered broker-dealer, provides the service, while Apex Clearing Corporation handles execution, clearing, and custody.
Coinbase framed the launch as the next step for its Everything Exchange. The company described the exchange as a “trusted platform to trade any asset at any stage of its lifecycle.” Eligible customers can now request shares at the offer price before open-market trading starts.
Now you can participate in IPOs on Coinbase
We’re giving US retail customers more access to primary financial markets.
This is the next step toward building the Everything Exchange, a trusted platform to trade any asset at any stage of its lifecycle. pic.twitter.com/uNXRWIdjwk
— Coinbase
(@coinbase) September 21, 2026
Users begin by opening the new IPOs page inside the app and selecting an active deal. Next, they fund their accounts to cover the cost of the requested shares. Once the expected price range becomes public, they can submit a Conditional Offer to Buy.
After the order book closes, Coinbase allocates available shares using an established methodology. The shares are then booked into the customer’s account at the IPO price.
Final allocations depend on underwriter supply and total customer demand. Customers can trade the shares once public trading begins.
Under Coinbase IPO access, customers can edit or cancel offers while the request period stays open. The allocation algorithm favors investors who plan to hold shares longer.
Selling within the first 30 days may bar a user from IPOs for the following 60 days. Meanwhile, Coinbase Capital Markets acts only as an agent and participates as a best-efforts selling-group member.
For Coinbase IPO access users, Oura set an estimated price range of $40.00 to $44.00 per share. The amended Form S-1 covers 50 million common shares.
The company offers 13.5 million shares, while selling stockholders offer 36.5 million. Oura will not receive proceeds from the stockholder sales.
Oura applied to list its stock on the Nasdaq Global Select Market under the symbol OURA. In addition, underwriters reserved up to 7.5% of the offered shares for a directed share program.
Goldman Sachs, Morgan Stanley, J.P. Morgan, Allen & Company, and Jefferies are listed first among the underwriters.
Eli Lilly has indicated interest in buying up to $100 million of shares. Funds affiliated with Dragoneer Investment Group indicated interest in up to $300 million.
In each case, the indicated purchase would occur at the IPO price. The filing states these indications are not binding commitments.
Oura reported revenue of $1,214.5 million for the nine months ended June 30, 2026. That compares with $697.6 million a year earlier, a 74% increase.
Net income was $60.8 million, versus $1.6 million. As of June 30, 2026, Oura reported 5.0 million Paid Members across 56 markets.
The post Coinbase IPO Access Opens to US Retail Investors, Starting with Oura appeared first on Blockonomi.
