Coinbase Opens IPO Allocations to US Retail Investors With Oura

This is a structural shift in how retail participates in primary markets, not just a product launch. By letting eligible US customers request shares at the offer price, Coinbase is testing whether a crypto-native platform can function as a distribution channel for traditional equity offerings, potentially blurring the line between exchange and broker. The key constraint is supply from underwriters and demand, meaning access does not guarantee allocation. Whether this becomes a repeatable model or a one-off depends on underwriter willingness and regulatory comfort.