The developer staff behind bonk (BONK), a memecoin on the Solana community, has revealed plans to launch an exchange-traded product (ETP) in america.
Throughout an occasion known as Solana Breakpoint, Nom None, BONK core contributor, stated: “We’re proud to announce that we’re working with a tremendous staff to launch the primary BONK-based ETP.”
As defined in Criptopedia (academic part of CriptoNoticias), an ETP is a kind of by-product 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 companion 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 stated:
“There are lots of completely different folks proper now who haven’t been uncovered to all of the superb 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 deliver them to Solana.”
Nom None, BONK’s essential 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 americaThe purpose is for the ETP to be launched available on the market by the tip of the 12 months.
Following the launch, the asset with the icon of a canine rose from $0.00001666 to $0.00001844, representing a ten% improve.
BONK is at the moment the sixth meme cryptocurrency with largest market capitalization with over $1.29 billion.
As CriptoNoticias already reported, memecoins are property that pay tribute to a pet, a well-known individual or politician and usually They’re used for monetary hypothesis since they don’t have any intrinsic utility. That’s the reason their worth can go up or down in a matter of minutes and in an unpredictable manner.