Coinbase has launched an IPO subscription feature, enabling eligible users to apply for shares at the offering price through its licensed broker-dealer, Coinbase Capital Markets, prior to public listing. The inaugural offering is for smart ring manufacturer Oura, marking the platform's entry into pre-IPO share allocation. Oura updated its prospectus to set an IPO price range of $40 to $44 per share, with 50 million shares offered. At the midpoint valuation, the company is valued at approximately $13.5 billion and will list on Nasdaq under the ticker symbol OURA.