Report: Coinbase Taps Nasdaq for Direct Listing

Coinbase has chosen Nasdaq as the venue for its direct listing, according to two sources familiar with the San Francisco crypto unicorn’s plans.

February 2, 2021 | AtoZ Markets – After months of speculation, San Francisco-based crypto exchange Coinbase has chosen Nasdaq as a platform to enter the stock market through a direct listing. Sources familiar with the situation told The Block about this.

Coinbase Will List Its Shares on Nasdaq

On January 25, Nasdaq Private Market launched the Coinbase secondary stock market. The current shareholders of the Bitcoin exchange got the opportunity to sell their securities before the company acquired public status.

According to sources, one Coinbase share on the Nasdaq Private Market was valued at $200. Together with the 254 million issued securities, this implies a capitalization of the company at $50.8 billion. On the FTX derivatives exchange, this estimate is $70.36 billion with a Coinbase stock futures price of $277.

Read also: Coinbase Confidentially Files For IPO With SEC

As a reminder, in July 2020, Reuters, citing sources, announced the preparation of the company for the placement of shares on the stock market.

In December, analysts conservatively estimated the potential capitalization of Coinbase after it gained public status at $28 billion. Coinbase is the first crypto exchange to go public in the US.

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