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.

Bullish, a Cayman Islands-based firm that owns CoinDesk, aims for a $4.7 billion valuation amid shifting U.S. regulations.

Six years after raising $4.2 billion in the most lucrative sale of crypto tokens to date, digital currency entrepreneurs Brendan Blumer and Kokuei Yuan are back for another public offering.