Peter Thiel-backed cryptocurrency exchange Bullish surged more than 170 per cent on its market debut after an upsized initial public offering, in a further sign of investors’ strong demand for digital asset stocks.

Shares of Bullish, a cryptocurrency exchange backed by Peter Thiel, soared in their debut on the New York Stock Exchange Wednesday.

Hoping to follow the blockbuster initial public offerings of peer crypto companies Circle (CRCL) and eToro (TORO), Peter Thiel-backed Bullish is set to make its debut and could start trading as soon as today,