COINBASE OPENS IPO ALLOCATIONS TO US CUSTOMERS, STARTING WITH OURA

Summary from the TLDR Crypto newsletter

Coinbase began letting eligible US retail customers request shares at the IPO offer price through its app, starting with Oura's debut this week, with allocations potentially full, partial, or none depending on demand. The feature is a securities offering through Coinbase Capital Markets with Apex handling execution, clearing, and custody, distinct from the pre-IPO perpetual futures on companies like SpaceX that Coinbase launched for non-US users in June, which only provide synthetic price exposure rather than ownership. Coinbase said US customers can also transfer existing stock portfolios onto the platform to trade major stocks, indexes, and ETFs, following its earlier SEC filing this month seeking approval to list equity perpetuals.