A new exchange-traded product (ETP) focused on the Solana-based meme coin BONK has officially launched on the SIX Swiss Exchange, marking a significant development in the cryptocurrency trading landscape. This ETP, issued by Bitcoin Capital, enables both retail and institutional investors to gain exposure to BONK through conventional brokerage platforms.
Currently, BONK ranks as the seventh-largest meme coin by market capitalization, according to data from CoinGecko, and is priced at approximately $0.0599, reflecting a 3.5% increase on the day of the announcement. The listing underscores Switzerland’s increasingly robust regulatory framework, which has made the country an attractive locale for launching crypto ETPs.
Marcel Niederberger, CEO of Bitcoin Capital and its parent firm FiCAS AG, remarked on the favorable conditions for admitting cryptocurrency ETPs in Switzerland. He highlighted the well-developed regulatory environment and consistent supervisory practices that define the SIX Swiss Exchange as a “preferred venue” for cryptocurrency initiatives. Niederberger noted that this new product would cater to a diverse range of investors, noting how regulated ETPs tend to enhance investor confidence and liquidity.
The launch comes amidst a growing trend of meme coin products entering regulated markets, particularly in the United States. Recently, established players like Dogecoin (DOGE) have been at the forefront, with notable developments such as the Rex-Osprey Dogecoin ETF becoming the first fund in the U.S. to hold DOGE. Additionally, asset manager Grayscale introduced its spot GDOG product, which amassed around $1.4 million in trading volume on its opening day.
Niederberger expressed optimism about the future of regulated products referencing BONK, indicating that as European infrastructure matures and demand for thematic digital assets increases, the market could see further innovations, including more ETPs and structured financial products centered around meme coins.
The launch of the BONK ETP is reflective of a larger shift towards integrating cryptocurrency into traditional financial markets, offering a pathway for greater participation from both individual and institutional investors alike. As the digital asset market continues to evolve, the BONK ETP stands as a testament to Switzerland’s commitment to fostering a progressive environment for cryptocurrency trading.
