Solana-based meme coin Bonk (BONK) has begun buying and selling on Switzerland’s third-largest inventory alternate, by means of a newly launched alternate 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 Change, permitting buyers to achieve publicity to the token by means of conventional brokerage accounts, in response to 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 instructed Decrypt.
“Europe, and particularly the SIX Swiss Change gives a extremely developed regulatory surroundings with constant supervisory practices,” he mentioned.
“The product will attain each institutional and retail buyers by means of 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 current merchandise nonetheless coming from institutional desks.
He anticipates “continued enlargement of regulated merchandise referencing BONK” subsequent 12 months, as maturing European infrastructure and rising urge for food for thematic digital property open the door to “extra 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 information.
Dogecoin leads exercise
The Bonk itemizing follows a surge of meme coin merchandise coming into regulated markets primarily in the US, dominated by Dogecoin (DOGE), the biggest meme coin by market cap.
In September, the Rex-Osprey Dogecoin ETF turned 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.
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.
