CandleFocus Meme coin Bonk plans to launch an ETP — but is the SEC on board?
2024-09-24
Author: Content Editor
Bonk (BONK), a meme coin built on Solana (SOL), has announced plans to launch an Exchange Traded Product (ETP) in the United States in partnership with Osprey Funds. If successful, this would be the first meme coin to enter the ETP space, potentially bridging the gap between crypto investors and Wall Street. However, the approval of the ETP by the U.S. Securities and Exchange Commission (SEC) is not guaranteed, as the SEC has been cautious about approving ETPs for cryptocurrencies in the past. The announcement has sparked varied reactions, with some seeing it as a breakthrough while others are concerned about the legitimization of meme coins and the potential for speculative bubbles.
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