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.

The first trade in crypto-trading platform Bullish's stock was at $90 at 1:01 p.m. Eastern for 4.6 million shares, or 143.2% above the IPO pricing of $37. The strong opening comes after the number of shares sold was upsized to 30 million from an original expected offering of 20.