Coinbase has opened initial public offering access to eligible US retail customers through its app, beginning with smart-ring maker Oura. Customers can request shares once an expected price range is available, but allocations are not guaranteed and may be filled partially or rejected if demand exceeds supply. Shares are provided at the official IPO price through Coinbase Capital Markets, the company’s registered brokerage arm, with Apex Clearing processing and holding them. The program involves real company shares rather than tokenized or crypto-linked instruments. Coinbase is restricting customers who sell allocations within 30 days, with a possible 60-day loss of access to future IPO offerings and reduced or less frequent allocations for repeat early sellers. Oura’s latest SEC filing covers 50 million shares: 13.5 million from the company, 36.5 million from existing shareholders and a possible additional 7.5 million if demand is strong. Coinbase stock reached a four-month high near $208 before closing around $201 and later trading below $200. It was recently quoted at approximately $198.85, above its 200-day average near $193.95. Separately, Bitget has launched the OURAUSDT Pre-IPO Perpetual, a leveraged derivative linked to Oura’s anticipated listing rather than direct share ownership.