Bullish's shares were indicated to open more than 75% above their initial public offering price on Wednesday, signaling growing investor confidence in the sector and boosting prospects for future U.S.

Crypto exchange Bullish priced its IPO at $37 per share, above its expected range, giving it a market value of over $5 billion.

If the stock starts to trade at the last indicated range of $55 to $60 on the NYSE, it could potentially value the billionaire venture capitalist Peter Thiel-backed company at nearly $8.77 billion. A string of regulatory wins under a pro-crypto White House,