The Coinbase direct listing is said to be back in April

Photographer: Tiffany Hagler-Geard / Bloomberg

It is now Coinbase Global Inc., the largest cryptocurrency exchange in the United States with the aim of will be made public in April after his plans for a direct list this month fell through, according to people familiar with the matter who asked not to be identified because he was private.

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

A Coinbase representative declined to comment.

This week, Coinbase sponsors recorded up to 114.9 million shares to trade when the shares are listed. In a direct listing, investors can start selling their holdings as soon as a company starts trading instead of waiting for the closing period to expire, usually Until six months on a IPO.

Investment firms such as Andreessen Horowitz and Union Square Ventures is among the shares that could be traded, according to a regulatory statement Wednesday. CEO Brian Armstrong and Coinbase co-founder Fred Ehrsam have also registered shares.

Coinbase shares have changed hands between $ 200 and $ 375.01 in private transactions this year, according to the request. The weighted average price per share of transactions from January to March 15 was $ 343.58, which would give Coinbase a public market valuation of about $ 67.6 billion, based on the total number of shares. pending on Monday. The fully diluted value, including employee incentive plans and restricted stock units, would be significantly higher.

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

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

Coinbase’s latest financial statements revealed that the company makes money, differentiating it from many other startups when they make their public debuts. Coinbase went from a loss to a profit of $ 322 million last year with net income doubling more than $ 1.14 million.