300 Investors Contribute to INX's Ethereum-Based IPO, With More Waiting

Three hundred investors have ponied up funds for the initial public offering (IPO) of crypto exchange INX, according to Etherscan.

AccessTimeIconOct 13, 2020 at 9:30 p.m. UTC
Updated May 9, 2023 at 3:12 a.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

Three hundred investors have ponied up funds for the initial public offering (IPO) of crypto exchange INX, according to Etherscan.

  • The Ethereum blockchain also shows more than 650 transactions where investors have been whitelisted or registered. (The true number of registered investors could be higher because of how long the know-your-customer (KYC) process takes.)
  • According to Douglas Borthwick, chief marketing officer and head of business development at INX, the sale has seen interest from retail, accredited and institutional investors. 
  • Doing an IPO on-chain gives the public, and INX itself, a novel outlook on the process, which traditionally has been a back-room affair. 
  • Traditionally, to get information on who beneficially owns an interest in securities held at central securities depositories like the Depository Trust Company, investors or issuers would have to go to the investment banks or broker-dealers who coordinated the sale.
  • Because INX is self-issuing and national exchanges cannot list digital securities, the sale is only available in 15 states in the U.S. The exchange is also selling tokens to investors abroad.
  • How NEAR Enables Multichain Access From One Account
    00:56
    How NEAR Enables Multichain Access From One Account
  • Why the NEAR foundation Chose Eigenlayer as a Security Partner
    00:54
    Why the NEAR foundation Chose Eigenlayer as a Security Partner
  • Judge Kaplan Had 'No Love' for Sam Bankman-Fried, Legal Expert Says
    07:08
    Judge Kaplan Had 'No Love' for Sam Bankman-Fried, Legal Expert Says
  • How Bitcoin and Ether's Options Contracts Combined Expiry Could Spike Volatility
    01:11
    How Bitcoin and Ether's Options Contracts Combined Expiry Could Spike Volatility
  • Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.


    Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.


    Read more about