Bonk (BONK) could become the first meme coin to launch an Exchange-Traded Product (ETP) in collaboration with Osprey Funds, as announced at the Solana Breakpoint event.
Despite the bearish trend, analysts predict a 200% surge for BONK as the coin touches its crucial support level, supported by bullish signals from the MACD indicator and positive sentiment above the Bollinger Band.
This move by BONK could potentially pave the way for the first meme coin Exchange-Traded Fund (ETF), allowing investors to gain exposure to meme coins in a secure and familiar package.
However, regulatory considerations and community sentiment regarding the speculative nature of meme coins like BONK and SHIB may need to be addressed before institutions fully embrace the idea of a meme coin ETF.