Fidelity, the largest US stock brokerage, has slashed IPO qualification minimums by 75 to 95 percent, lowering its threshold to just $25,000 from $100,000 or more previously. In September, only five US IPOs raised a combined $1.9 billion, the slowest month since March, with equal-weighted average returns on all US IPOs this year currently negative. Other platforms including Coinbase, Robinhood, E*Trade, Alpaca, Kraken and ByBit have similarly expanded retail access to initial public offerings. The highly anticipated IPO of Anthropic, potentially launching in November at a valuation of up to $2 trillion, may explain the timing of Fidelity’s decision to lower its requirements.
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