On a pre-announced date and time, Coinbase Pro will start accepting inbound transfers of a new asset that it will list, and trading in that asset typically begins the following day once sufficient supply is established on the platform.
Trading on new order books will happen in phases, beginning with post-only mode and proceeding to full trading should our metrics for a healthy market be met.
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 listings will be rolled out into four phases:
Transfer-only Customers will be able to transfer the new asset into their Coinbase Pro 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).
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, market, and stop orders.
Learn more about our listing process.