Eric Balchunas, the Bloomberg ETF sage, has once again stirred the pot, suggesting that the dream of a Bonk 2x ETF is still kicking. Like a stubborn weed in a well-manicured garden, the idea refuses to die.
In a recent X post, Balchunas, with the calm of a man whoâs seen it all, reassured the masses that the Bonk 2x ETF isnât just a pipe dream. He noted that while Tuttle Capital Management pulled the plug on their 2x Melania and Trump ETFsâprobably after a stern talking-to from regulatorsâthe Trump and Doge ETF filing from Rex Shares is still alive and kicking. This, he mused, might mean the SEC isnât entirely allergic to meme coin ETFs, leaving the door ajar for Bonk to waddle through. đŚ
So for anyone who had their heart set on a 2x Bonk ETF you may still get your wish!
â Eric Balchunas (@EricBalchunas) January 28, 2025
Balchunasâs musings come hot on the heels of Tuttleâs Monday filing, which sought approval for a whopping 10 2x leveraged crypto ETFs, including one for Bonk. If the SEC gives the green light, this would be the first-ever leveraged ETF to track the whimsical world of Bonk. đ˘
This latest chapter in the Bonk saga follows a flurry of filings aimed at bringing Bonk-related investment products to market. On Jan. 21, Osprey and Rex Shares threw their hats in the ring with applications for non-leveraged ETFs tracking Bonk and other digital assets. But the real push for a Bonk ETF began back in September 2024, when Bonk Inu and Osprey Funds first announced plans for a Bonk exchange-traded product (ETP), a move that many saw as the first step toward a full-blown ETF. đž
In an earlier X post, Balchunas pointed out that this is a 40 Act filing, meaning that, in theory, these ETF products could be up and running by Aprilâunless the SEC decides to rain on the parade. đ§ď¸
Also note this is a 40 act filing so in theory unless the SEC disapproves them they could be out and trading in April. Will be interesting to see where the SEC draws line (if at all) and why. I will say itâs been a week since Doge/Trump filing and it hasnât been withdrawn. ThatâsâŚ
â Eric Balchunas (@EricBalchunas) January 27, 2025
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2025-01-29 16:21