Breaking: Bonk Inu Announces ETP Launch In US For Retail and Institutional Investors

Bonk Inu (BONK), the popular Solana-based dog-themed meme coin, has recently marked a monumental stride within the global crypto landscape. Notably, the meme token announced the launch of a BONK exchange-traded product (ETP) in the U.S, emerging as the first-ever meme coin to achieve this feat. Crypto market enthusiasts speculate whether the ETP launch could fuel a positive impact on the asset’s price ahead.

Bonk Inu Unveils BONK ETP In The U.S.

According to the latest Solana Breakpoint, a multi-day event for devs and enthusiasts, the Bonk Inu (BONK) community is launching an ETP in the U.S. “This marks the first-ever step towards a BONK ETF,” the announcement added.

The Solana meme coin‘s team is working with Osprey Funds, a New York-based company that helped streamline one of the first Bitcoin ETFs and Solana Trust, to roll out the ETP in the U.S. Notably, the meme token’s community also revealed that it is looking forward to launching the ETP by the end of this year.

Meanwhile, the announcement added that the ticker remains the same, BONK. Overall, the plans for an upcoming ETP launch have sparked a tidal wave of optimism for the token globally.

What’s Next For The Coin’s Price?

At press time, Bonk Inu (BONK) price rested at $0.00001803, down 2% in the past 24 hours. The coin’s intraday low and high were recorded as $0.00001762 and $0.00001861, respectively. Today’s waning movement falls in line with the broader crypto market trend.

Nevertheless, the meme token’s long-term prospects shine with bullishness, attributable to the looming BONK ETP launch ahead. For context, the ETP launch is expected to drive further investor interest in the asset, bringing a new gush of money inflow to the token’s ecosystem.

Simultaneously, crypto market enthusiast ‘TraderKoz’ took to X, spotlighting a strong, resilient price pattern for BONK. According to the post, the dog-themed token ‘just put in a clean triple tap.” This statement refers to a pattern where the asset’s price tested support three times and bounced back up. Coupled with the ETP launch, this price pattern has added to bullishness on the asset’s long-term prospects. Market watchers continue to monitor the coin for future price action shifts.