Coinbase Opens IPO Subscription Service, First Deal Is Oura Ring

This is a notable expansion of Coinbase's remit from crypto trading into primary-market access, effectively letting its user base apply for IPO allocations that have traditionally been the preserve of institutional and brokerage clients. The choice of a consumer-hardware name rather than a crypto-native issuer signals the ambition is broader than digital assets. Whether the model scales beyond a single offering, and how allocations are handled if demand outstrips supply, is the open question.