Eric Balchunas, a leading ETF analyst at Bloomberg, has conveyed a hopeful perspective regarding the Bonk 2x ETF.
In a recent post on social media, Balchunas reassured his audience that the chance of a Bonk 2x ETF remains alive. He mentioned that although Tuttle had retracted its proposal for the 2x Melania and Trump ETFs—probably due to direct pushback from regulators—the applications for Rex’s Trump and Dogecoin ETFs are still active. This indicates that the Securities and Exchange Commission (SEC) may not have entirely dismissed all meme coin ETFs, allowing for Bonk’s continued progress. South Korea’s Stance on Integrating Bitcoin into National Holdings
Balchunas’ remarks followed Tuttle Capital Management’s submission on Monday, seeking authorization for ten 2x leveraged cryptocurrency ETFs, which includes one for Bonk. If granted, this would mark the first leveraged ETF tracking Bonk.
This news comes after a series of proposals aimed at launching investment products associated with Bonk. On January 21, Osprey and Rex Shares filed non-leveraged ETF applications for Bonk and other digital currencies. Nonetheless, initiatives to advocate for a Bonk ETF began in September 2024 when Bonk Inu and Osprey Funds initially revealed plans to introduce a Bonk exchange-traded product (ETP), a move broadly regarded as a crucial step toward a complete ETF.
In an earlier tweet, Balchunas highlighted that this is a 40 Act application, suggesting that in theory, these ETF offerings could be initiated and commence trading by April—unless the SEC rejects them.
