Coinbase’s direct listing of COIN is set for April 14

U.S.-based crypto exchange Coinbase is anticipating to go public with its direct listing within two weeks.

On their Coinbase Blog, the crypto exchange announced that the U.S. Securities and Exchange Commission, or SEC, has declared the crypto exchange’s S-1 registration for a public offering effective. Coinbase’s Class A common stock is expected to trade on the Nasdaq Global Select Market under the ticker symbol “COIN” on April 14. 

Being one of the largest cryptocurrency exchanges in the United States, they had previously been expected to go public in March but a $6.5 million settlement with the Community Futures Trading Commission likely made them decide to delay the listing.

Looking ahead to the direct listing, the exchange that handles over $3 billion daily transactions, is valued around $100 billion as per a private auction last month at which shares were sold for up to $375 each. Roughly 114.9 million shares are registered with Nasdaq.

Coinbase currently has over 43 million customers in more than 100 countries worldwide.  In 2020, the San Francisco-based exchange recorded a $322 million profit over $1.2 billion in revenues.

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