Coinbase Global Inc (NASDAQ:COIN) opened IPO allocations to eligible U.S. retail customers Monday, starting with Oura’s debut this week, as shares jumped 4.73% on the news.
• Coinbase Global shares are powering higher. Why are COIN shares rallying?
How the New Feature Works
Coinbase announced in a Monday blog post that customers can request shares at the IPO offer price directly through the app before public trading begins.
Users navigate to the IPOs page, fund their account and submit a Conditional Offer to Buy once the price range goes public.
Final allocations depend on underwriter supply and total demand, meaning orders may fill in full, partially, or not at all.
The exchange also built in a long-term incentive structure. Selling IPO shares within the first 30 days can result in a 60-day ban from future IPO participation, with repeat sellers getting smaller and less frequent allocations going forward compared to investors who hold longer.
Coinbase Institutional co-CEO Brett Tejpaul said the launch expands how customers interact with assets across their entire lifecycle without leaving the Coinbase app.
“We are building toward a complete global financial platform, and expanding our IPO offerings brings us one step closer,” Tejpaul said.
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Why This Fits a Bigger Pattern
The Block reported Monday that Coinbase Capital Markets, a FINRA-registered broker-dealer, acts purely as an agent routing orders through clearing partner Apex Clearing rather than underwriting deals itself.
The move builds on Coinbase’s June launch of pre-IPO perpetual futures for SpaceX, which gave non-U.S. users synthetic exposure to private companies through derivatives.
This time is different since it’s a real securities offering with actual share ownership.
Coinbase is pushing deeper into traditional markets on other fronts too, allowing U.S. customers to transfer existing stock portfolios onto the platform and trade major stocks, indexes, and ETFs.
Earlier this month, the exchange filed with the SEC seeking approval to list equity perpetuals.
COIN Price Analysis: Key Levels to Watch
COIN climbs 5% to $203.44 Monday, breaking decisively above the year-long descending trendline from the January high near $260.
The move also clears the 200-day EMA at $193.93 for the first time since the downtrend began, marking a structural shift after eight months of lower highs.
RSI at 61.18 sits above its moving average and climbing, confirming genuine momentum behind the breakout. Meanwhile, key levels for COIN are:
- Key Resistance: $213.50 — Nearby pivot area where rebounds can stall if buyers don’t follow through.
- Key Support: $183 — Prior demand zone that sits near the stock’s rising short-term trend area
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