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Meme coin Bonk plans to launch an ETP — but is the SEC on board?
The post Meme coin Bonk plans to launch an ETP — but is the SEC on board? appeared on BitcoinEthereumNews.com. The proposed BONK ETP — potentially the first ever meme coin exchange-traded product — could bridge the gap between crypto investors and Wall Street. Bonk eyes Wall Street Bonk (BONK), a top meme coin built on Solana (SOL), has announced plans to launch an Exchange Traded Product in the United States. A core developer for Bonk, Nom, revealed the news at Solana’s Breakpoint event, which took place on Sept. 20-21. The meme coin is partnering with Osprey Funds, a New-York based firm known for bringing crypto assets into traditional markets. As with any crypto ETP, the move aims to lower barriers for traditional and institutional investors to access crypto. An ETP acts as a representation of the underlying asset’s price — in this case the asset would be BONK — and can be traded on traditional stock exchanges, removing the specific complexities of crypto wallets and exchanges. According to the announcement, the ETP would be “seed funded by Bonk DAO and strategic partners” and made available to both retail and institutional investors. However, no official launch date has been confirmed yet. If successful, this would be the first time a meme coin has entered the ETP space — a critical shift for a crypto asset category often seen as especially speculative, as well as short-lived and just plain unserious. Is a Bonk ETF a done deal? While the Bonk community has announced plans to launch an ETP in the U.S., it’s important to understand that this doesn’t guarantee that the product will be approved for trading any time soon — or at all. The announcement is just the first step in what could be a long and uncertain journey, and regulatory approval from the U.S. Securities and Exchange Commission remains a key hurdle. In the past, the SEC has been cautious…
The post Meme coin Bonk plans to launch an ETP — but is the SEC on board? appeared on BitcoinEthereumNews.com.
The proposed BONK ETP — potentially the first ever meme coin exchange-traded product — could bridge the gap between crypto investors and Wall Street. Bonk eyes Wall Street Bonk (BONK), a top meme coin built on Solana (SOL), has announced plans to launch an Exchange Traded Product in the United States. A core developer for Bonk, Nom, revealed the news at Solana’s Breakpoint event, which took place on Sept. 20-21. The meme coin is partnering with Osprey Funds, a New-York based firm known for bringing crypto assets into traditional markets. As with any crypto ETP, the move aims to lower barriers for traditional and institutional investors to access crypto. An ETP acts as a representation of the underlying asset’s price — in this case the asset would be BONK — and can be traded on traditional stock exchanges, removing the specific complexities of crypto wallets and exchanges. According to the announcement, the ETP would be “seed funded by Bonk DAO and strategic partners” and made available to both retail and institutional investors. However, no official launch date has been confirmed yet. If successful, this would be the first time a meme coin has entered the ETP space — a critical shift for a crypto asset category often seen as especially speculative, as well as short-lived and just plain unserious. Is a Bonk ETF a done deal? While the Bonk community has announced plans to launch an ETP in the U.S., it’s important to understand that this doesn’t guarantee that the product will be approved for trading any time soon — or at all. The announcement is just the first step in what could be a long and uncertain journey, and regulatory approval from the U.S. Securities and Exchange Commission remains a key hurdle. In the past, the SEC has been cautious…
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