The developer crew behind bonk (BONK), a memecoin on the Solana community, has revealed plans to launch an exchange-traded product (ETP) in the USA.
Throughout an occasion referred to as Solana Breakpoint, Nom None, BONK core contributor, mentioned: “We’re proud to announce that we’re working with a tremendous crew to launch the primary BONK-based ETP.”
As defined in Criptopedia (instructional part of CriptoNoticias), an ETP is a kind of spinoff that’s traded on inventory exchanges, just like shares. They’re devices utilized by merchants searching for oblique publicity to the cryptocurrency market.
None additional indicated that the meme cryptocurrency will associate with Osprey Funds, a New York-based agency that helped expedite the primary bitcoin (BTC)-based exchange-traded funds (ETFs) and manages the Osprey Solana Belief (OSOL) ETP. He mentioned:
“There are a whole lot of totally different individuals proper now who haven’t been uncovered to all of the wonderful issues we’re constructing. There are lots of people who would like to be uncovered to Bonk, however they won’t have conventional trade accounts. They won’t have wallets, and we have to work out how we are able to convey them to Solana.”
Nom None, BONK’s principal collaborator.
He additionally expressed his optimism that this publicly traded product primarily based on this is step one in the direction of launching a memecoin-based ETF in the USAThe goal is for the ETP to be launched in the marketplace by the tip of the yr.
Following the launch, the asset with the icon of a canine rose from $0.00001666 to $0.00001844, representing a ten% enhance.
BONK is at the moment the sixth meme cryptocurrency with largest market capitalization with over $1.29 billion.
As CriptoNoticias already reported, memecoins are belongings that pay tribute to a pet, a well-known individual or politician and usually They’re used for monetary hypothesis since they haven’t any intrinsic utility. That’s the reason their worth can go up or down in a matter of minutes and in an unpredictable manner.
