IG Announces Offering of Coinbase Shares to Leverage Trading Clients

​Spread betting and CFDs provider IG Group has announced that it will be offering Coinbase shares to its leverage clients from April 14th, the first day when Coinbase Global Inc (COIN) will list on the Nasdaq​.

Coinbase​ is going public through a direct listing rather than a traditional IPO. The estimated market cap for the company is expected to be in the region of $75 billion, which would make it one of the largest listings in history.

The London-listed broker expects trading to begin at any point from 14:30 (UKT) onwards, but realistically probably not for the first few hours. This is due to price discovery in the underlying market.

IG also explained that trading Coinbase shares with IG means that investors will be taking a speculative position on Coinbase's share price without owning the shares directly. Instead, investors will be trading with spread bets or CFDs, which are leveraged derivatives.

Margin requirements for leverage trading of Coinbase shares in IG will be as follows:

· Tier1 25%: £250k

· Tier 2 40%: £1m

· Tier 3 50%: £1.25m

· Tier 4 75%: £1.25m+

In addition to IG, Japanese FX, CFD and stock brokerage Rakuten Securities will also offer Coinbase shares trading​ to its clients once Coinbase stock gets listed.