Key Highlights
- Bonk (BONK) is now listed on Switzerland’s SIX Swiss Exchange through a fully backed ETP issued by Bitcoin Capital.
- The listing gives traditional investors regulated access to BONK without needing wallets or direct crypto custody.
- The launch comes amid a sharp decline in the memecoin market, with major tokens down 80–90% from their 2024 highs.
Solana-based memecoin Bonk (BONK) has entered the European traditional finance market following the launch of a regulated exchange-traded product (ETP) on Switzerland’s SIX Swiss Exchange.
The product, issued by Bitcoin Capital AG, allows investors to gain exposure to BONK through standard brokerage accounts without managing wallets or digital asset custody.
SIX is Switzerland’s largest and Europe’s third-largest stock exchange, making the listing notable for a token that emerged from the Solana community in late 2022.
Details of the ETP listing
Bitcoin Capital confirmed the ETP backed by BONK tokens held in reserve. The issuer said the structure is intended to give traditional market participants direct exposure to the memecoin within a regulated framework.
“With the Bonk ETP now listed on SIX Swiss Exchange, investing in Bonk has never been easier. Investors don’t need crypto expertise; they can trade Bonk just like any other stock, said CEO Marcel Niederberger of Bitcoin Capital, in the official announcement.
A Bonk core contributor known as Nom said, “Expanding into the European financial markets with this ETP is a large step for BONK.”
Background: What Bonk is and how it developed
Bonk launched on Christmas Day 2022 through a community airdrop and describes itself as a dog-themed memecoin built on the Solana blockchain. It gained visibility during the memecoin surge of 2024, when community-driven tokens saw rapid growth across several networks.
Despite periods of high activity, BONK, like most memecoins, has experienced significant volatility. As of today, the token dropped around 4%, and also remains down roughly 78% from its November 2024 all-time high.
At the time of writing, BONK was trading just above the $0.0000097 support level and encountering resistance at the 20-day EMA.
Memecoin market weakens sharply in 2025
The launch of ETP is a time when the overall memecoin market has dropped significantly. A lot of the most actively traded tokens of 2024 have recorded significant losses:
- PEPE is down about 80% from its December 2024 peak.
- FLOKI has fallen more than 85% from its June 2024 high.
- Dogwifhat (WIF) is down over 90% from its March 2024 all-time high.
- Political token Official Trump (TRUMP) has dropped about 86% since launch.
According to CoinMarketCap data, the total market cap of memecoins fell to $38.06 billion last Friday, the lowest level of 2025, with roughly $5 billion lost in a single day.
Related developments in altcoin investment products
The Bonk ETP follows several altcoin-linked financial products introduced this year. In the United States, ETFs associated with XRP, Dogecoin, and Solana are already trading on regulated exchanges.
Earlier this week, Grayscale launched a Dogecoin ETF, which recorded around $1.4 million in first-day trading volume, below the $12 million expectation noted by Bloomberg ETF analyst Eric Balchunas.
In May, REX-Osprey filed to launch a spot BONK ETF in the US. The fund has not yet gone live.
What the listing means
The SIX listing will incorporate BONK into one of the largest stock markets in Europe when the crypto-native trading is declining and the demand is moving towards regulated investment products.
The ETP offers a point of connection between the cryptocurrency market and the traditional financial infrastructure, allowing BONK to be traded in the same way as equities and other structured products.
The product is the first BONK-backed ETP in Europe. Its future performance over the next few months will probably be subject to the general market trends, the regulatory dynamics, and investor interest in memecoin-related products.
Also Read: 21Shares Expands Crypto ETP Offerings on Nasdaq Stockholm
