Bonk Teams Up With Bitcoin Capital to Launch ETP in Europe

Solana-based meme coin Bonk (BONK) has begun trading connected Switzerland's third-largest banal exchange, done a recently launched speech traded product, adding different regulated crypto offering to Europe's expanding integer plus market.

Swiss-based crypto ETP issuer Bitcoin Capital issued the BONK ETP connected SIX Swiss Exchange, allowing investors to summation vulnerability to the token done accepted brokerage accounts, according to an announcement shared with Decrypt.

As a subsidiary of Swiss asset-management boutique FiCAS AG, Bitcoin Capital launched the world's archetypal actively managed Bitcoin ETP successful 2020.

Switzerland's regulatory model and marketplace infrastructure for admitting crypto ETPs made it the “preferred venue for the launching a BONK ETP,” Marcel Niederberger, Chief Executive Officer astatine Bitcoin Capital & FiCAS told Decrypt.

"Europe, and specifically the SIX Swiss Exchange offers a highly developed regulatory situation with accordant supervisory practices," helium said.

New BONK Treasury Targets Up to $115 Million successful Solana Meme Coin by Year-End

“The merchandise volition scope some organization and retail investors done established broker platforms,” Niederberger said, noting that regulated ETP entree tends to boost capitalist assurance and liquidity, with astir inflows crossed Bitcoin Capital’s existing products inactive coming from organization desks.

He anticipates “continued enlargement of regulated products referencing BONK” adjacent year, arsenic maturing European infrastructure and rising appetite for thematic integer assets unfastened the doorway to “additional ETPs and structured notes.”

BONK sits adjacent $0.0599, up 3.5% connected the day, ranking arsenic the seventh-largest meme coin by marketplace worth per CoinGecko data.

The Bonk listing follows a surge of meme coin products entering regulated markets chiefly successful the United States, dominated by Dogecoin (DOGE), the largest meme coin by marketplace cap.

In September, the Rex-Osprey Dogecoin ETF became the archetypal U.S. money to clasp DOGE, portion plus manager Grayscale launched its spot GDOG merchandise past week, generating astir $1.4 cardinal successful first-day trading volume.

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REX Shares besides filed for a BONK ETF successful January, alongside different meme coin products.

Meanwhile, 21Shares unveiled a 2x leveraged Dogecoin ETF connected the Nasdaq past week, portion Bitwise's Dogecoin ETF, BWOW, received support from NYSE Arca connected Tuesday for listing and registration.