The largest U.S.-based cryptocurrency exchange, Coinbase, announced on Thursday that it has received approval from the U.S. Securities and Exchange Commission (SEC) to list on the Nasdaq on April 14. This landmark decision makes Coinbase the first major crypto exchange to go public in the U.S. and the first large company to pursue a direct listing on Nasdaq.
Key Details of Coinbase's Direct Listing
- Listing Date: April 14, 2021
- Stock Ticker: COIN
- Shares Offered: ~115 million common shares
- Valuation: $68 billion (approx. $343.58 per share)
Unlike a traditional IPO, Coinbase’s direct listing means no new shares will be issued—existing shareholders will sell directly to new investors.
Why This Is a Milestone for Crypto
- Regulatory Validation: SEC approval signals growing acceptance of crypto assets in mainstream finance.
- Market Confidence: Institutional and retail interest in cryptocurrencies (e.g., Bitcoin) has surged, with traditional banks increasingly engaging with digital assets.
- User Base: Coinbase boasts 43 million users across 100+ countries.
👉 Explore how Coinbase’s listing impacts crypto markets
FAQs
Q: What’s the difference between an IPO and a direct listing?
A: An IPO issues new shares to raise capital, while a direct listing allows existing shareholders to sell their stakes without underwriters.
Q: Why is SEC approval significant for crypto?
A: It legitimizes cryptocurrency exchanges in regulated markets, encouraging broader adoption.
Q: How can I invest in Coinbase?
A: After April 14, shares (COIN) will be available on Nasdaq via brokerage platforms.
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