Bonk (BONK), the meme cryptocurrency of the Solana community, will likely be obtainable to traders in Europe by way of an exchange-traded product (ETP) that will likely be listed on the Swiss Inventory Trade (SIX). This new monetary instrument will permit merchants to acquire regulated and direct publicity to this specific asset.
The proposal was submitted by Bitcoin Capital, a Liechtenstein-based asset supervisor. The ETP, which is able to function underneath the ticker BONK, plans to start buying and selling on November 27.
In keeping with what was defined by the corporate, every Bonk ETP share will likely be totally backed by the BONK digital assetwhich ensures a direct and clear hyperlink with the market worth of the token.
An ETP is a sort of by-product that trades on inventory exchanges, just like a inventory. These devices are generally utilized by traders in search of oblique publicity to digital asset markets by way of regulated and conventional autos, as defined by Criptopedia, the academic part of CriptoNoticias.
The value of memecoin has not benefited after the arrival of the ETP to the market was introduced. Its worth has dropped by 5% within the final 24 hoursgoing from 0.00001051 to 0.0000095 {dollars}, as it’s dragged together with the overall fall of cryptocurrencies.
