Coinbase Global, the largest U.S. cryptocurrency exchange, has received approval from the U.S. Securities and Exchange Commission (SEC) to list its shares on the Nasdaq.
The company, which plans to go public through a direct listing, expects to list its shares on the Nasdaq under the ticker COIN on April 14.
In a direct listing, no shares are sold in advance, as is the case with an initial public offering (IPO). The company’s share price is determined by orders coming into the stock exchange.
Coinbase in a regulatory filing last month said its stock in the private market traded at a weighted average price of $343.58 in the first quarter of 2021 through March 15, a nearly 13-fold jump in its valuation to around $68 billion in the space of a few months.
