Crypto-friendly Robinhood brings US IPO access to UK retail investors

Robinhood Robinhood Markets, Inc. (HOOD) has launched its IPO Access service in the UK, letting retail investors request shares in new U.S. listings at the official offering price before public trading begins.

UK customers can submit requests through their general investment accounts, Robinhood said in a statement on Monday. The app includes the prospectus and SEC filings for each available listing, which investors can read before deciding whether to request shares. Robinhood said it is working with a UK Public Offer Platform provider to provide access to eligible initial public offerings.

Robinhood first introduced IPO Access in the U.S. in 2021. The company said it has since worked on more than 50 IPOs, making the service available to millions of U.S. customers.

"As we bring IPO Access to the UK, we want to support that same opportunity for Britain's retail investors: access to the next generation of innovative public companies," Robinhood UK President Jordan Sinclair said in the statement.

Robinhood's UK expansion

The launch follows Robinhood's August rollout of crypto trading to eligible UK customers through Bitstamp, the exchange it acquired for $200 million last year. The service allows users to buy and sell more than 50 cryptocurrencies directly within its main UK investing app, alongside stocks, ISAs, options, and futures.

Robinhood has also expanded its digital asset business beyond cryptocurrency trading. In July, the company launched Robinhood Chain on mainnet, alongside 24/7 trading for eligible users of its tokenized stock products. At the time of its UK crypto launch, a spokesperson told The Block that Robinhood was also exploring bringing products such as Stock Tokens to its UK app.

IPO allocation requests will appear alongside customers' portfolios in their general investment accounts. Robinhood said it does not charge commission fees for the service, but warned that investing in IPOs involves significant risk and that share prices can be highly volatile, particularly shortly after listing.