Solana-based memecoin Bonk is now buying and selling on Switzerland’s SIX Swiss Change after Bitcoin Capital listed a regulated exchange-traded product (ETP) tied to the token.
The itemizing brings the memecoin into one in every of Europe’s largest inventory markets, permitting buyers to realize publicity to Bonk (BONK) by means of customary brokerage accounts, eradicating the necessity for wallets or direct token custody.
BONK is a dog-themed memecoin on Solana that launched on Christmas Day 2022 by means of a group airdrop. It manufacturers itself as “the primary Solana canine coin for the individuals, by the individuals.”
On Thursday morning, the token was up round 5.8%. Nonetheless, it’s nonetheless down round 83% from its all-time excessive in November 2024.
Bitcoin Capital AG is a Switzerland-based issuer of crypto exchange-traded merchandise.
The BONK ETP launch in Europe follows Grayscale’s debut of a Dogecoin ETF within the US on Monday. The fund noticed solely about $1.4 million in first-day buying and selling quantity, nicely under $12 million expectations, based on Bloomberg ETF analyst Eric Balchunas.
Associated: Pump.fun’s massive $436M ‘cash-out’ turns heads as memecoin mania fades
The demise of memecoins in 2025
Memecoins — cryptocurrencies whose worth is pushed primarily by web tradition and group sentiment somewhat than technical fundamentals — drove a lot of the crypto narrative in 2024, with many of those tokens producing huge profits for savvy traders.
Nonetheless, the memecoin narrative has light sharply in 2025, and most of the tokens that thrived a 12 months in the past at the moment are considerably down.
In response to CoinGecko knowledge, PEPE (PEPE), a frog-themed token on Ethereum, is down about 83% from its December 2024 peak. FLOKI (FLOKI), a dog-themed token constructed on Ethereum and BNB Chain, has seen an analogous slide, falling greater than 85% from its June 2024 excessive.
Dogwifhat (WIF), a Solana-based token, has been hit even tougher, dropping over 92% since its March 2024 all-time excessive.
Politically themed memecoins have fared worse. Official Trump (TRUMP), a token that makes use of US President Donald Trump’s title with none confirmed affiliation, is down about 99.6% from its launch peak.
On Friday, the market worth of memecoins fell to $39.4 billion, the bottom stage recorded in 2025, with about $5 billion erased in a single day, based on CoinMarketCap.
Journal: Crypto’s impossible choice: When privacy and AML laws conflict
