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On Wednesday April 14th, 2021, Coinbase, the largest US-based major crypto exchange is going public via direct listing under the ticker $COIN. The IPO is much anticipated by retail and Wall St. alike, as many investors that are too apprehensive to buy crypto such as bitcoin and ethereum, can finally get exposure to the crypto markets through traditional regulated securities.
The pre-IPO sales on the FTX Exchange are 580 USD per share. The current valuation is 100bn USD. At this valuation, Coinbase is worth more than the New York Stock Exchange and Nasdaq Stock Market, combined.
Coinbase is also holding 122bn USD of assets for institutions. Coinbase’s stock price will provide another gauge of institutional interest and sentiment towards crypto at large. The major financial news organizations as well as Crypto Twitter have been buzzing with speculation on where the IPO pricing will land on Wednesday, one thing is for sure; everyone seems excited about a major crypto exchange finally hitting the stock market.
As US-based major crypto exchange Coinbase going public in two days, many industry insiders see it as a bullish event for a wider crypto space, but also one that may eventually lead more people into decentralized finance (DeFi).
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