Bonk (BONK), the Solana network’s meme cryptocurrency, will be made available to European investors through an exchange-traded product (ETP) listed on the Swiss Exchange (SIX). This new financial product allows traders to obtain regulated direct exposure to this specific asset.
The proposal was submitted by Liechtenstein-based asset management company Bitcoin Capital. The ETP will operate under the ticker BONK and is scheduled to begin trading on November 27th..
According to the company’s explanation, Each Bonk ETP share is fully backed by BONK digital assetsThis ensures a direct and transparent link with the market price of the token.
ETPs are a type of derivative that are traded on stock exchanges, similar to stocks. These instruments are commonly used by investors seeking indirect exposure to digital asset markets through regulated traditional instruments, as described by Criptopedia, the educational section of CriptoNoticias.
Meme coin prices have not benefited since the ETP market entry was announced. Price has fallen 5% in the last 24 hourswhich rose from $0.00001051 to $0.0000095, dragged down by the overall decline in cryptocurrencies.
(Tag Translation) Altcoin
