Can a company do both an ICO and IPO?

My understanding is that coins sold during an ICO are used to primarlily transact with the company but can also be bought/sold on exchanges; they are assets in the company but unlike shares, owning coins does not equate to ownership in the company.

 

Even a crypto-company has to have some sort of traditional bylaws when divying up ownership, right? A lot of crypto-companies that I've seen operate internally like any other private company but run their services on top of a public, decentralized network (e.g., Ethereum, STEEM, etc.).

 

Does anything prevent a company that had an ICO to have an IPO someday in the future?

 

Just a side-thought I had while writing this that makes me think it might be possible to have both:

If GLD shares are like Coins (i.e., GLD shares [Coins] track the price of gold [asset] and investors don't have a claim on the underlying gold [company], then holding physical Gold Bullion [purchase shares during an IPO of a company that had an ICO] is like having ownership of the asset.