On a pre-announced date and time, Coinbase will accept inbound transfers of a new asset that it will list. Trading in that asset typically begins the following day once sufficient supply is established on the platform.
Trading on new order books happens in phases—starting with post-only mode until it reaches full trading depending on whether our metrics for a healthy market are met. We will tweet from our verified @Coinbase handle as each order book moves through the four phases.
We will follow each of these stages independently for each new order book. If at any point one of the new order books does not meet our assessment for a healthy and orderly market, we may keep the book in one state for a longer period of time or suspend trading as per our Trading Rules.
New asset listing phases
Transfer only: Customers will be able to transfer the new asset into their Coinbase account. Customers will not yet be able to place orders, and no orders will be filled on these order books. Trading will begin during business hours, pacific time (PT), and we’ll tweet an announcement from our @Coinbase account.
Post only: In the second stage, customers can post limit orders but there will be no matches (completed orders). Order books will be in post-only mode for a minimum of one minute.
Limit only: In the third stage, limit orders will start matching, but customers are unable to submit market orders. Order books will be in limit-only mode for a minimum of ten minutes.
Full trading: In the final stage, full trading services will be available, including limit and market orders.
Learn more about our listing process.