Bonk Teams Up With Bitcoin Capital to Launch ETP in Europe

In brief

A Bonk ETP has begun trading on Switzerland’s SIX Swiss Exchange, issued by Bitcoin Capital.
The product lets retail and institutional investors access Solana-based meme coin BONK through standard brokerage platforms.
BONK is currently the seventh-largest meme coin by market capitalization, according to CoinGecko.

Solana-based meme coin Bonk (BONK) has begun trading on Switzerland’s third-largest stock exchange, through a newly launched exchange traded product, adding another regulated crypto offering to Europe’s expanding digital asset market.

Swiss-based crypto ETP issuer Bitcoin Capital issued the BONK ETP on SIX Swiss Exchange, allowing investors to gain exposure to the token through traditional brokerage accounts, according 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 “preferred venue for the launching a BONK ETP,” Marcel Niederberger, Chief Executive Officer at Bitcoin Capital & FiCAS told Decrypt.

“Europe, and specifically the SIX Swiss Exchange offers a highly developed regulatory environment with consistent supervisory practices,” he said.

“The product will reach both institutional and retail investors through established broker platforms,” Niederberger said, noting that regulated ETP access tends to boost investor confidence and liquidity, with most inflows across Bitcoin Capital’s existing products still coming from institutional desks.

He anticipates “continued expansion of regulated products referencing BONK” next year, as maturing European infrastructure and rising appetite for thematic digital assets open the door to “additional ETPs and structured notes.”

BONK sits near $0.0599, up 3.5% on the day, ranking as the seventh-largest meme coin by market value per CoinGecko data.

Dogecoin leads activity

The Bonk listing follows a surge of meme coin products entering regulated markets mainly in the United States, dominated by Dogecoin (DOGE), the largest meme coin by market cap.

In September, the Rex-Osprey Dogecoin ETF became the first U.S. fund to hold DOGE, while asset manager Grayscale launched its spot GDOG product last week, generating approximately $1.4 million in first-day trading volume.

REX Shares also filed for a BONK ETF in January, alongside other meme coin products.

Meanwhile, 21Shares unveiled a 2x leveraged Dogecoin ETF on the Nasdaq last week, while Bitwise’s Dogecoin ETF, BWOW, received approval from NYSE Arca on Tuesday for listing and registration.