Bullish is the latest stock to surge in its market debut, joining others like Figma and CoreWeave, which saw stunning day-one rallies following IPOs.

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.

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.