Simply put
- Bonk ETP, introduced by Bitcoin Capital, is now trading on the SIX Swiss Exchange in Switzerland.
- This product will enable both retail and institutional investors to engage with the Solana-based memecoin BONK via standard brokerage platforms.
- Currently, BONK ranks as the seventh largest memecoin by market cap, according to CoinGecko.
Memecoin Bonk (BONK) has officially started trading on Switzerland’s third-largest stock exchange, coming through a new exchange-traded product. This addition marks a step forward for regulated crypto offerings in Europe.
Bitcoin Capital, a cryptocurrency ETP issuer based in Switzerland, has launched BONK ETP on the SIX Swiss Exchange. Investors can now access this token using traditional brokerage accounts.
As a part of Swiss wealth management firm FiCAS AG, Bitcoin Capital had previously introduced the world’s first actively managed Bitcoin ETP back in 2020.
Marcel Niederberger, the CEO of Bitcoin Capital & FiCAS, remarked that Switzerland’s regulatory setup and infrastructure for crypto ETPs made it a top spot for launching BONK ETP.
He pointed out that Europe, especially the Swiss SIX exchange, offers a robust regulatory framework with reliable supervisory practices.
Niederberger also stated that the product is designed to attract both institutional and retail investors through established brokerage platforms. He noted that access to regulated ETPs often boosts investor confidence and liquidity. Most inflows into Bitcoin Capital’s existing offerings still come from institutional sources.
Looking ahead, he anticipates a continuing growth of regulated products tied to BONK in the upcoming year. The maturation of European infrastructure and a rising interest in thematic digital assets could lead to more ETPs and structured notes being introduced.
BONK saw a 3.5% increase recently, reaching about $0.0599, which keeps it positioned as the seventh largest meme coin by market cap, according to CoinGecko.
Dogecoin leads the effort
The listing of Bonk follows an increase in memecoin products being offered in regulated markets, primarily in the United States, where Dogecoin (DOGE) stands as the largest memecoin by market cap.
In September, the Lex Osprey Dogecoin ETF became the first fund in the US to include DOGE, while asset management firm Grayscale recently launched its spot GDOG product, which saw a trading volume of about $1.4 million on its first day.
Additionally, REX has applied for a BONK ETF along with other meme coin offerings this January.
Meanwhile, last week, 21Shares unveiled a 2x leveraged Dogecoin ETF on Nasdaq. Bitwise’s Dogecoin ETF, BWOW, also received approval for listing and registration from NYSE Arca just this Tuesday.
