Cryptocurrency exchange Coinbase filed preliminary documents for its upcoming initial public offering just days after Bitcoin first rose to €20,000. The company's initial public offering has been rumored for months, but it recently took the first step toward making it a reality by filing its Form S-1 with the State Securities and Exchange Commission (SEC). -United. In a brief blog post, Coinbase explained that its documents still need to be reviewed by the SEC before it can proceed with its IPO, saying: “Coinbase Global, Inc. announced today that it has confidentially filed a draft statement registration on Form S-1 with the Securities and Exchange Commission (the “SEC”). The Form S-1 is expected to become effective once the SEC completes its review process, subject to market and other conditions. In October 2018, Coinbase was valued at €8 billion after completing a massive Series E funding round. However, at that time, Bitcoin had fallen to just €6,000 following the 2017 cryptocurrency crash. Now that the cryptocurrency is worth even more than it was at its previous high, Coinbase's valuation could be significantly higher than it was two years ago.