When will Coinbase do its IPO?
Coinbase will IPO on 4/14/21 and the ticker symbol will be COIN.
Will the Coinbase IPO be available in SoFi’s IPO Investing Center?
No, for SoFi to be able to offer the opportunity to our members to participate in an IPO, we will need to have a distribution agreement with the underwriting bank of that IPO. Coinbase IPO is filing through a direct listing which means they do not have an underwriting bank involved.
Will I be able to purchase shares of Coinbase through SoFi?
Yes, once Coinbase (COIN) is available on NASDAQ, it will be available to purchase on our platform. Coinbase will not be available on NASDAQ right when the market opens at 9:30 AM EST.
IPOs are typically available later in the day, the timing to when it is available depends on the IPO and the activity in the private market. While Coinbase is in the private market, you are able to enter a limit order to buy. If you try to place a market order during this time, it will automatically be canceled.
Once it is on NASDAQ, you will search for it just like any other stock and make your purchase.
How much will a Coinbase share cost?
SoFi will not know the actual opening price until it is available on NASDAQ. The share price is impacted by the trades placed in the private market before it is made available to the public.