Coinbase’s direct offer is said to be pushed back to April

Photographer: Tiffany Hagler-Geard / Bloomberg

Coinbase Global Inc., the largest US currency exchange, is now mik na goes to the plans for a direct listing this month in April, according to people familiar with the matter who asked not to be identified because it is private.

The U.S. Securities and Exchange Commission has reviewed the company’s plans for a direct listing, an alternative to a traditional initial public offering.

A Coinbase representative declined to comment.

Coinbase fans registered for as many as 114.9 million shares this week to trade when the shares are listed. In an instant listing, investors can start selling their shares as soon as a company starts trading instead of waiting for a lockout period to expire – usually to six months in a scholarship.

Investment companies including Andreessen Horowitz and Union Square Ventures is among those whose shares can trade, according to a regulatory filing Wednesday. CEO Brian Armstrong and Coinbase co-founder Fred Ehrsam also registered stock.

Coinbase shares turned between $ 200 and $ 375.01 in private transactions this year, the submission shows. The volume-weighted average price per share for transactions from January to March 15 was $ 343.58, which would give Coinbase a public valuation of about $ 67.6 billion, based on the total number of shares outstanding as of Monday. The full diluted value – including employee incentive plans and limited shares – would be significantly higher.

Read more: Coinbase is said to be valued at $ 90 billion in private auction

The debut will be the first major live listing on the Nasdaq. All such previous listings were on the New York Stock Exchange, including those of Spotify Technology SA, Slack Technologies Inc., Asana Inc., Palantir Technologies Inc. and Roblox Corp., which is listed this month.

The latest financial statements from Coinbase have revealed that the company is making money, and this sets it apart from many other startups when they make their public debut. Coinbase last year ranged from a loss to a profit of $ 322 million on net income that more than doubled to $ 1.14 billion.