As bitcoin surges, prominent cryptocurrency exchange Coinbase aims to go public

As bitcoin surges to all-time highs, the most prominent cryptocurrency exchange has signaled its intent to go public.

Cryptocurrency brokerage Coinbase said Thursday that it has filed a draft registration statement with the Securities and Exchange Commission, paving the way for plans for an eventual initial public offering.

The announcement comes as interest in bitcoin and other cryptocurrencies has soared during the coronavirus pandemic. Investors have found such currencies attractive as the US dollar weakens.

Bitcoin has been smashing its own price records and recently surpassed the symbolic $20,000-a-coin milestone. It has since continued to climb higher, and was last trading just shy of $23,000, according to data provider Refinitiv.

Coinbase was launched in 2012, according to its website, and “more than 35 million people in over 100 countries trust Coinbase to buy, sell, store, use and earn cryptocurrency.” The company indicates it has more than $25 billion in assets on the platform and more than $320 billion in total volume traded.

Coinbase declined to provide additional comment.