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

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

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.