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Oura IPO Access on Kraken via xStocks

Last updated: 24 September 2026

Oura is available through IPO Access on Kraken and Kraken Pro via xStocks. This article explains what IPO Access is, how it works, how to submit interest for the Oura IPO, and what happens on listing day, including how allocation and refunds are handled.

Allocation is not guaranteed, is not first-come, first-served, and is decided by the IPO underwriters based on demand. High demand may result in a full, partial, or no allocation.

To participate in the Oura IPO, you need a verified Kraken account and be in an eligible jurisdiction.

What is IPO Access?

IPO Access allows eligible Kraken clients to submit interest in an upcoming IPO before the company lists on the open market, at the offering price, inclusive of a 5% fee from xStocks.

Historically, getting in around the offering price has been reserved for institutional investors and select clients with established broker relationships. For most retail investors, the only option has been to participate once a company is already trading. IPO Access is designed to change that.

For the Oura IPO, you can participate via OURAx, the xStocks tokenized ticker, available through Kraken

OURAx IPO access via xStocks is available via the Kraken App, Kraken Pro App, Kraken website, and Kraken Pro website).

OURAx IPO access via xStocks is available in the EEA and most of the rest of the world. Not available in the United States or to US persons, or in the United Kingdom, Canada, Japan, Australia, New Zealand, or sanctioned jurisdictions.

About Oura

Oura Inc. is a health technology company founded in Finland in 2013 and headquartered in San Francisco. Its main product is the Oura Ring, a smart ring that tracks metrics including sleep, heart rate, activity, stress and temperature, paired with a companion app and membership. As of June 30, 2026, Oura reported 5.0 million paid members across 56 markets. (Source: Oura’s S-1/A filed with the SEC on September 21, 2026.)

Regional availability for the Oura IPO

Region

Product

Ticker

How it works

European Economic Area (EEA)

IPO xStocks (tokenized equities)

OURAx

Submit interest through Kraken Launch. Allocation isn’t guaranteed or determined by Kraken or xStocks. You may receive full, partial or no fill.

Rest of world (most countries)

IPO xStocks (tokenized equities)

OURAx

Submit interest through Kraken Launch. Allocation isn’t guaranteed or determined by Kraken or xStocks. You may receive full, partial or no fill.

Where IPO Access for Oura is not available

  • IPO xStocks are not available in the United Kingdom, US, New Zealand, Canada, or Australia.

  • IPO xStocks are not available in sanctioned jurisdictions.

  • Availability varies by jurisdiction and additional geographic restrictions may apply. Eligibility is shown in your account.

  1. Log in to your Kraken account on the Kraken App. If you don’t have an account, you’ll need to sign up and get verified.

  2. Go to the Explore page using the bottom navigation bar.

  3. Tap Pre-order on the Oura IPO card at the top of the page.

  4. Enter the amount you would like to participate with. Your funds are reserved, not debited, at this stage. You participate at the offering price, inclusive of applicable fees.

  5. Lastly, review your pre-order on the confirmation page, accept the required agreements, and tap Submit conditional offer to buy.

You can view your pending interest orders at any time before the window closes by tapping the More tab of the Kraken App (bottom-right corner), then tapping Queued orders. Allocation is not guaranteed, is not first-come, first-served, and is decided by the IPO broker based on demand. High demand may result in a full, partial, or no allocation.

Allocation is not guaranteed, is not first-come, first-served, and is decided by the IPO underwriters based on demand. High demand may result in a full, partial, or no allocation.

If you have not yet completed the required verification for xStocks in your region, you will be prompted to do so before you can submit interest.

  1. Log in to your Kraken account on Kraken.com. If you don’t have an account, you’ll need to sign up and get verified.

  2. From the Home page, scroll down and click Pre-order on the Oura IPO card. It is located under the Upcoming IPOs section.

  3. Enter the amount you would like to participate with. Your funds are reserved, not debited, at this stage. You participate at the offering price, inclusive of applicable fees. You will see OURAx as the ticker.

  4. Lastly, review your pre-order on the confirmation page, accept any required agreements, and click Submit conditional offer to buy.

Allocation is not guaranteed, is not first-come, first-served, and is decided by the IPO underwriters based on demand. High demand may result in a full, partial, or no allocation.

If you have not yet completed the required verification for xStocks in your region, you will be prompted to do so before you can submit interest.

  1. Log in to your Kraken Pro account on the Kraken Pro App. If you don’t have an account, you’ll need to sign up and get verified.

  2. Go to the Oura IPO card on the Home page below your favourites or Stocks in Markets.

  3. Tap Submit interest within the Oura IPO card page with key details about the xStocks offering.

  4. Enter the amount you would like to participate with. Your funds are reserved, not debited, at this stage. You participate at the offering price, inclusive of applicable fees.

  5. Lastly, review your pre-order on the confirmation page, accept the required agreements, and tap Submit conditional offer to buy.

Allocation is not guaranteed, is not first-come, first-served, and is decided by the IPO underwriters based on demand. High demand may result in a full, partial, or no allocation.

If you have not yet completed the required verification for xStocks in your region, you will be prompted to do so before you can submit interest.

  1. Log in to your Kraken Pro account on pro.kraken.com. If you don’t have an account, you’ll need to sign up and get verified.

  2. From the Home page, click on the Oura IPO card or discover the Oura IPO within Stocks in Markets to submit interest.

  3. Enter the amount you would like to participate with. Your funds are reserved, not debited, at this stage. You participate at the offering price, inclusive of applicable fees. You will see OURAx as the ticker.

  4. Lastly, review your pre-order on the confirmation page, accept any required agreements, and click Submit conditional offer to buy.

Allocation is not guaranteed, is not first-come, first-served, and is decided by the IPO underwriters based on demand. High demand may result in a full, partial, or no allocation.

If you have not yet completed the required verification for xStocks in your region, you will be prompted to do so before you can submit interest.

If you are participating in the Oura IPO, it helps to understand what you are receiving.

xStocks are tokenized equities. Each xStock is backed 1:1 by the underlying share, held in custody by a regulated entity (Backed Assets (JE) Limited), so the value of the token tracks the value of the underlying share. If you receive an allocation in the Oura IPO, you receive OURAx, a 1:1 backed tokenized representation of Oura equity, delivered to your Kraken portfolio.

IPO xStocks provide price exposure only. They do not represent direct ownership of the underlying shares and do not carry voting rights. Corporate actions such as dividends are reflected through the token’s rebasing mechanism rather than paid out directly.

Allocation is not guaranteed, is not first-come, first-served, and is decided by the IPO underwriters based on demand. High demand may result in a full, partial, or no allocation.

Once trading opens, OURAx can be traded, converted, or moved like other assets on Kraken, and can move across participating xStocks Alliance platforms and compatible venues.

A few things to know before you submit interest in the Oura IPO:

Your funds are reserved, not debited. When you submit interest, the amount you enter is reserved in your account. It is not charged unless and until you receive an allocation. You cannot use reserved funds for other activities until allocation is processed or the funds are made available again.

Participation includes applicable fees. You participate at the offering price, inclusive of applicable fees.

Submitting interest is non-binding until the final window closes. Your indication of interest is not a guarantee of an allocation.

You can cancel, but you cannot edit. If you want to change your interest amount, you should cancel your existing submission and submit a new one.

There is a final cancellation window. Before the interest window closes, you will receive a notice marking the last opportunity to withdraw. After that point, your submission becomes binding. For IPO xStocks, the cancellation deadline is set for each IPO and communicated to you.

Allocation is not guaranteed. The amount you submit interest for is not the amount you are guaranteed to receive. Any unallocated funds will get refunded. See the allocation section below.

Allocation is not determined by Kraken, and it is not first-come, first-served. The amount you receive depends on availability and demand. In a high-demand offering, the available allocation may be distributed on a pro-rata or similar basis.

Because of this, you may receive:

  • a full allocation (the full amount you submitted interest for),

  • a partial allocation (some of the amount you submitted interest for), or

  • no allocation (none of the amount you submitted interest for).

Allocation depends on availability and demand, and is not guaranteed. High demand may result in a partial or zero allocation.

On the listing day, the final IPO price is set and allocations are processed. If you received an allocation, your OURAx IPO xStocks will appear in your portfolio. Any unallocated funds will get refunded.

Trading opens later that morning. From that point, you can trade your OURAx allocation, including selling it, like any other asset on Kraken.

Listing dates can move. If the date changes, the timeline above shifts with it.

If any of your reserved funds are not allocated, either because you received a partial allocation or no allocation, those funds are returned to your account.

Unallocated funds are returned on the same day after the listing. Once returned, the funds are available to use as normal.

For IPO xStocks (OURAx):

  • A verified Kraken account in an eligible region.

  • Required xStocks verification completed for the EEA or rest of world.

  • Funding in a supported method. IPO xStocks support USD and stablecoins.

  • Not available to clients in the UK, Canada, Australia, sanctioned jurisdictions, the US, or to US persons.

IPO participation involves a high degree of risk. Before submitting interest, consider the following:

  • Allocation is not guaranteed. High demand may result in a partial or zero allocation, and any funds not allocated are returned.

  • Price can move after listing. The value of IPO xStocks may go down as well as up after the company lists.

  • Your funds are reserved during the window. You cannot use reserved funds until allocation is processed or the funds are returned.

  • Price exposure only. IPO xStocks are tokenized equities that provide price exposure only and do not represent direct ownership of the underlying shares.

  • Not available in all jurisdictions. Not available in the United States or to US persons, or in the UK, Canada, Australia, or sanctioned jurisdictions. Geographic restrictions apply for xStocks.

  • Terms apply. See the Kraken Terms of Service at kraken.com/legal/disclosures to determine which legal entity you face, based on where you live.

In the EEA, IPO xStocks are tokenized equities providing price exposure only — not direct ownership. Allocation is not determined by xStocks or Kraken and may be full, partial, or none; it is not guaranteed, and any funds not allocated are returned. The value of IPO xStocks may go down as well as up after listing. xStocks are tokenized securities issued by Backed Assets (JE) Limited (“BAJL”) pursuant to an EU-registered prospectus, providing price exposure only, with no voting or dividend rights. IPO xStocks are made available in the EEA by Payward Europe Digital Solutions (CY) Limited (“PEDSL-CY”), authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC), licence no. 342/17. Not available in the U.S. or to U.S. persons, or in the United Kingdom, Canada, or Australia. Geo restrictions apply.

IPO xStocks are made available outside the EEA, by Payward Digital Solutions Ltd., regulated by the Bermuda Monetary Authority.

xStocks are tokenized securities issued by Backed Assets (JE) Limited (“BAJL”) pursuant to an EU-registered prospectus, providing price exposure only, with no voting or dividend rights. xStocks are not registered under the US Securities Act and are not available in the United States or to US persons. xStocks are also not currently available in the United Kingdom, Canada, Australia, or in any other jurisdiction where their offer or distribution would be unlawful or would require regulatory authorisation that has not been obtained. In the EEA, xStocks are provided by Payward Europe Digital Solutions (CY) Limited (“PEDSL”), regulated by the Cyprus Securities and Exchange Commission (CySEC), licence no 342/17. PEDSL does not provide investment advice. Trading xStocks involves significant risks and is not appropriate for all investors. The value of your investment may go down or up. Read the Offering Documentation and Risk Disclosure for xStocks available on eu.kraken.com. Outside the EEA, xStocks are made available by Payward Digital Solutions Ltd. (“PDSL”), licensed to conduct digital asset business by the Bermuda Monetary Authority (“BMA”). Ōura’s post-listing free float is expected to be approximately 15%. A thin float combined with high investor demand may result in heightened price volatility following listing. IPO participation involves a high degree of risk. Allocation is subject to underwriter decisions; allocation is not guaranteed and excess funds will be returned. The value of IPO xStocks may go down as well as up after listing. Past performance is not a reliable indicator of future results. Geographic restrictions apply.