Bitcoin Reclaims $85,000 as Coinbase Expands Beyond Crypto With IPO Access

Crypto Rally and IPO Expansion Put Coinbase Back in Focus

Bitcoin (BTCUSD) surged above $85,000 Monday, reaching its highest level since January even after the Senate failed to advance the CLARITY Act. The rally lifted several crypto-linked stocks, including Coinbase (COIN), which gained about 3.5% and reached a more than four-month high.

Coinbase also announced a significant expansion beyond cryptocurrency trading: eligible U.S. customers will be able to request shares in IPOs through the Coinbase app before public trading begins. Smart-ring maker Oura will be the first offering available through the new service.

Key Points

• Bitcoin jumped more than 7% and moved above $85,000, its highest level since January, despite the CLARITY Act failing to advance in the Senate.
• Coinbase shares gained about 3.5% and reached a more than four-month high as the broader cryptocurrency market rallied.
• Coinbase is adding IPO access for eligible U.S. customers, beginning with Oura, as part of its effort to expand beyond crypto into a broader financial platform.

Bitcoin Rally Lifts Coinbase and Crypto-Linked Stocks

Bitcoin climbed above $85,000 Monday, extending a sharp rebound even after the Senate failed to advance the CLARITY Act, legislation designed to establish a regulatory framework for the cryptocurrency industry.

The cryptocurrency was up more than 7% during the session, while Coinbase gained about 3.5%. Strategy (MSTR), a major corporate holder of bitcoin, climbed more than 9%, while Robinhood Markets (HOOD) advanced nearly 3%.

The move followed an initial decline in bitcoin after the CLARITY Act failed to advance. Coinbase CEO Brian Armstrong and Strategy founder Michael Saylor subsequently argued that the industry should move forward despite the legislative setback.

Strategy added to the crypto activity Monday by disclosing that it purchased another 950 bitcoin during the prior week. The company also repurchased approximately 1.77 million shares of its preferred stock.

The renewed bitcoin strength comes after a difficult longer-term period. The supplied data shows bitcoin down roughly 29% year over year, while Coinbase remained down more than 40% over the previous 12 months despite its recent rebound.

Why Is Coinbase Stock Moving Higher?

Coinbase’s Monday move coincided with both bitcoin’s rally and a new expansion of the company’s financial-services offering.

Eligible U.S. customers will now be able to request IPO shares directly through a new section of the Coinbase app. Customers can fund their accounts and submit a “Conditional Offer to Buy” after an expected IPO price range becomes available.

An order does not guarantee shares. Coinbase said requests can be filled completely, partially or not at all depending on customer demand and the number of shares provided by underwriters.

Coinbase Capital Markets, the company’s FINRA-registered broker-dealer, will aggregate customer requests and route them through Apex Clearing Corporation. Coinbase said it will act as an agent rather than underwriting the offerings, holding inventory or taking the opposite side of customer transactions.

Oura will become the first IPO available through the service. The smart-ring maker plans to offer 50 million shares at an expected price of $40 to $44 and list on Nasdaq under the ticker OURA.

Coinbase is also discouraging rapid selling of IPO allocations. Customers who sell IPO shares within 30 days may be barred from participating in additional IPOs for 60 days, while repeated early selling could result in smaller or less frequent allocations.

What Matters Next for Coinbase and Bitcoin?

Coinbase’s IPO service represents another step in its effort to build what CEO Brian Armstrong has called an “Everything Exchange,” expanding the platform beyond its original cryptocurrency business.

The company has also filed paperwork to offer U.S. perpetual futures tied to individual stocks. These derivative contracts provide exposure to stock prices without expiring. Coinbase plans to begin with 50 to 60 major stocks, including Apple (AAPL), Tesla (TSLA) and Nvidia (NVDA), later this year.

The company has separately launched tokenized stocks for eligible customers outside the U.S., received authorization to offer stocks and derivatives in the U.K., and outlined plans involving stocks, crypto and prediction markets in Canada.

The expansion comes as Coinbase’s underlying financial results remain mixed. Second-quarter 2026 revenue of $1.22 billion declined 18.5% from a year earlier, while subscription and services revenue totaled $555 million and represented 48% of net revenue.

Bitcoin remains another major variable. Monday’s move above $85,000 marked its highest level since January, while the accompanying gains in Coinbase, Strategy and bitcoin-related funds showed how quickly improving cryptocurrency price action can spread across crypto-linked assets.

What It Means for Investors

Monday’s market action highlights two separate developments affecting Coinbase.

The first is the cryptocurrency market itself. Bitcoin’s move above $85,000 coincided with gains across several crypto-linked stocks, reinforcing the relationship between digital-asset price action and investor reaction to companies exposed to the industry.

The second is Coinbase’s continued expansion into traditional finance. IPO allocations, planned single-stock perpetual futures and other products broaden the company’s platform beyond cryptocurrency trading.

The IPO initiative is particularly notable because it gives eligible U.S. retail customers access to shares at the IPO offer price before public trading begins, although allocations are not guaranteed. Oura will provide the first test of how the service operates in practice.

At the same time, the company enters this expansion after an 18.5% year-over-year decline in second-quarter revenue, while COIN stock remains more than 40% below its level from a year earlier. The combination puts both crypto-market activity and Coinbase’s diversification efforts at the center of the company news investors are following.

Conclusion

Bitcoin’s return above $85,000 drove renewed momentum across cryptocurrency-linked assets Monday despite the CLARITY Act’s failure to advance in the Senate.

Coinbase participated in that rally while simultaneously taking another step beyond its core crypto business. Its new IPO platform will allow eligible U.S. customers to request allocations through the Coinbase app, beginning with Oura.

The development adds to Coinbase’s broader “Everything Exchange” strategy, which also includes planned stock-linked perpetual futures and other traditional financial products. For upcoming market news, the performance of bitcoin and the rollout of Coinbase’s expanded product lineup remain two distinct developments surrounding COIN.

FAQs

Why did Coinbase stock rise Monday?

Coinbase shares gained about 3.5% as bitcoin rallied above $85,000 and the company announced that eligible U.S. customers will be able to request IPO shares through the Coinbase app.

How high did bitcoin rise Monday?

Bitcoin climbed more than 7% and traded above $85,000, reaching its highest level since January.

How will Coinbase IPO access work?

Eligible customers can select an offering in the Coinbase app, fund their accounts and submit a “Conditional Offer to Buy” after the expected IPO price range is published. Requests may be filled fully, partially or not at all.

What is the first IPO available through Coinbase?

Smart-ring maker Oura will be the first IPO offered through Coinbase. Oura plans to sell 50 million shares at an expected price of $40 to $44 and list on Nasdaq under the ticker OURA.

What is Coinbase’s “Everything Exchange” strategy?

Coinbase is expanding beyond cryptocurrency trading with products including IPO access, planned U.S. stock-linked perpetual futures and other offerings spanning traditional financial markets and digital assets.

This article was created with AI assistance and reviewed by an editor. For details, please refer to our Terms of Use.

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