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Solana-based meme coin Bonk (BONK) has begun buying and selling on Switzerland’s third-largest inventory change, via a newly launched change traded product, including one other regulated crypto providing to Europe’s increasing digital asset market.
Swiss-based crypto ETP issuer Bitcoin Capital issued the BONK ETP on SIX Swiss Alternate, permitting buyers to realize publicity to the token via conventional brokerage accounts, based on an announcement shared with Decrypt.
As a subsidiary of Swiss asset-management boutique FiCAS AG, Bitcoin Capital launched the world’s first actively managed Bitcoin ETP in 2020.
Switzerland’s regulatory framework and market infrastructure for admitting crypto ETPs made it the “most popular venue for the launching a BONK ETP,” Marcel Niederberger, Chief Government Officer at Bitcoin Capital & FiCAS informed Decrypt.
“Europe, and particularly the SIX Swiss Alternate affords a extremely developed regulatory atmosphere with constant supervisory practices,” he mentioned.
New BONK Treasury Targets As much as $115 Million in Solana Meme Coin by Yr-Finish
“The product will attain each institutional and retail buyers via established dealer platforms,” Niederberger mentioned, noting that regulated ETP entry tends to spice up investor confidence and liquidity, with most inflows throughout Bitcoin Capital’s present merchandise nonetheless coming from institutional desks.
He anticipates “continued growth of regulated merchandise referencing BONK” subsequent yr, as maturing European infrastructure and rising urge for food for thematic digital belongings open the door to “further ETPs and structured notes.”
BONK sits close to $0.0599, up 3.5% on the day, rating because the seventh-largest meme coin by market worth per CoinGecko knowledge.
The Bonk itemizing follows a surge of meme coin merchandise coming into regulated markets primarily in the USA, dominated by Dogecoin (DOGE), the most important meme coin by market cap.
In September, the Rex-Osprey Dogecoin ETF grew to become the primary U.S. fund to carry DOGE, whereas asset supervisor Grayscale launched its spot GDOG product final week, producing roughly $1.4 million in first-day buying and selling quantity.
Grayscale Dogecoin, XRP ETFs Add to Flurry of Altcoin Fund Debuts
REX Shares additionally filed for a BONK ETF in January, alongside different meme coin merchandise.
In the meantime, 21Shares unveiled a 2x leveraged Dogecoin ETF on the Nasdaq final week, whereas Bitwise’s Dogecoin ETF, BWOW, obtained approval from NYSE Arca on Tuesday for itemizing and registration.
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