Coinbase has opened access to initial public offerings (IPOs) to its U.S. customers, starting with Oura’s IPO, which will be made available to eligible investors this week.

 

In a blog post this Monday, the exchange said the IPO access is a step forward toward becoming an “everything exchange,” while adding that its U.S. customers will now be able to gain early exposure to IPOs of high-interest companies even before they hit other exchanges.

 

 

To request access to this new feature and an IPO allocation, all customers need to do is navigate to the new IPOs page inside the Coinbase app and select an active deal page. Once a user’s Coinbase account is funded for the cost of the requested shares, they can then submit a “Conditional Offer to Buy” once the expected price range becomes public.

 

Once the order book closes, the allocated shares will instantly be sent to a user’s Coinbase account at the price at which the IPO was listed.

 

However, the exchange also warned users against rushing to sell their IPO shares shortly after they go public. According to the exchange, participation in this program is reserved for investors who believe in what they are purchasing.

 

Selling IPO shares within the first 30 days may lead to a customer being barred from the IPO participation program for the next 60 days, with smaller and less frequent allocations for investors with a repetitive tendency to quickly sell IPO shares.

 

The launch of this IPO access comes shortly after Coinbase recently reverted its Base app to the Coinbase Wallet, an action that was due to the Base app failing to gain traction and perform up to expectations.