The New York-based investment manager invests heavily in crypto and blockchain companies.
The company prices its offering at $38 per share.
The company has been meeting prospective investors and is working with an adviser on the round, Bloomberg reported.
The shares will continue to trade on the TSX Venture Exchange.
The shares are scheduled to make their debut on Nasdaq next week.
The Texas-based firm will offer private funds for accredited U.S. investors in partnership with Hashdex.
Bitfarms, a Canadian bitcoin miner, has been approved to list its common stock on the Nasdaq Global Market.
London-listed Coinsilium has been trading under COIN since 2015. The Winklevoss twins registered the symbol for their proposed bitcoin ETF back in 2014. How did Coinbase land it in 2021?
The COIN ticker is coming to public markets soon, Coinbase announced Thursday.
The share price implies a market value for the cryptocurrency-focused investment firm of $860 million.
The Jersey-based investment firm said its offering was oversubscribed, garnering subscriptions for nearly $80 million.
Coinbase's offering will become the first large-scale direct listing on the Nasdaq, an alternative to an IPO.
While these moves seem opportunistic at first glance, some of the companies are well-positioned to get involved in bitcoin mining.