First-Ever BONK ETP Launches on Swiss Exchange

• Bonk ETP is 100% physically backed, providing a direct link to BONK’s market price.
• Launch follows $32M institutional BONK purchases and SEC filings for a BONK Income Blast ETF.
• Token tests $0.000012 resistance; a sustained breakout could target $0.000014.

Bitcoin Capital’s Bonk ETP (BONK) is set to go live on Switzerland’s SIX Exchange on November 27, offering investors a regulated, transparent, and fully backed way to gain exposure to the meme token within the Solana ecosystem. 

Each share of the ETP is 100% physically backed by BONK tokens held in institutional-grade custody, providing a direct link to the underlying asset’s market price. The ETP will trade under the ticker BONK and can be accessed via standard banks or brokers, with market makers providing liquidity and tight spreads.

Analysts see this as a bridge between speculative tokens and regulated investment channels, appealing particularly to institutions looking for secure crypto exposure.

Price Catalysts

The BONK ETP launch comes on the back of massive institutional activity, including a $32 million BONK purchase in September and SEC filings for a BONK Income Blast ETF. ETPs historically reduce entry barriers for institutions, generating significant buy-side pressure. 

According to CoinMarketCap, BONK’s turnover ratio of 0.24 shows the token has sufficient liquidity to handle increased demand. The whale activity at discounted price levels has previously driven short-term rallies, and the ETP could serve as the spark for renewed momentum.

Related: Why Most DATs Will Trade at a Discount, According to Bitwise’s Matt Hougan

Technical Snapshot

At the time of writing, BONK is up 10.05% in the past 24 hours, trading around $0.00000994. BONK’s all-time high was $0.00005916 on November 20, 2024, which is down about 83.26% from that peak.

Source: TradingView

BONK is testing an important level around $0.000012, and a sustained move above that could open the door toward $0.000014. After months of consolidation, the token has found support around $0.000004, while resistance sits near $0.000012. 

Altcoin Season Soon?

With quantitative tightening ending soon, money markets holding record liquidity, and Bitcoin dominance approaching a historical turning point, the conditions are lining up for a potential altcoin rally once rates drop and risk-on behavior returns. An analyst noted,

“Altcoins have been suppressed under quantitative tightening. And the real environment that fuels alt seasons hasn’t even started yet.”

Related: Crypto Claims Disputed as ISO Rejects Token Compliance Status