Chime is set to debut on the Nasdaq later on Thursday after raising $864 million in its initial public offering, with investors waiting to see whether the digital bank will maintain the recent streak of explosive first-day gains for new listings.

Chime, a digital bank popular with younger customers, is the latest tech firm to go public. The stock will begin trading Thursday under the ticker symbol CHYM.

Chime's strong debut is seen as a positive sign for the U.S. IPO market, which has been sluggish for several years. But that may be changing.