Coinbase’s Direct Listing Is Said to Be Pushed Back to April

Coinbase Global Inc., the biggest U.S. cryptocurrency exchange, is now aiming to go public in April after its plans for a direct listing this month have slipped, according to people familiar with the matter who asked not to be identified because it was private.

The U.S. Securities and Exchange Commission has been reviewing the company’s plans for a direct listing, an alternative to a traditional initial public offering.

A representative for Coinbase declined to comment.

This week, Coinbase’s backers registered for as many as 114.9 million shares to trade when the stock lists. In a direct listing, investors can ...