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

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

Crypto exchange Bullish is targeting a valuation of up to $4.23 billion in its United States listing, the company said in a filing on Monday, launching its roadshow to capitalize on the momentum built by digital assets amid regulatory clarity.