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

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.

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,