Key Takeaways
REX-Osprey’s BONK ETF was originally scheduled to launch on the 12th of September, alongside several others that have now been postponed to next week. But how will this impact price?
The Bonk [BONK] ecosystem gained traction after the unveiling of their launchpad, which is helping reduce supply as well as increasing exposure.
At press time, BONK’s price rose by 7% while the weekly gains were at 24% per CoinMarketCap data.
REX-Osprey is scheduled to launch its BONK ETF on the 12th of September. However, the rollout may face delays, much like the Securities and Exchange Commission’s (SEC) postponement of the Dogecoin [DOGE] ETF.
BONK to launch ETF and DAT
According to Bloomberg ETF analysts, Eric Balchunas and James Seyffart, REX-Osprey crypto ETFs will be seeing some delays until the middle of next week. Balchunas wrote,
“Another delay. Launching next week. Mid week. Prob Thur.”
On the other hand, Seyffart further clarified that these ETFs will be different from Solana’s [SOL] product (SSK). They will hold spot, but not for their entire portfolio.
At the time of writing, it was still unclear if BONK ETF had suffered the same fate or would go live. Meanwhile, the SEC had cleared the 75-day period of assessment.
Source: James Seyffart/X
In the meantime, Nasdaq-listed Safety Shot (SHOT) inaugurated BONK Holdings with their first acquisition of 228.9 billion BONK, valued at $55 million.
The treasury represented about 2.5% of the supply with the aim of an establishment of Solana DeFi protocols.
Having said that, the memecoin was now easily accessible to retail and institutions through ETF, ETP and exchanges. Robinhood, Coinbase, Binance and Upbit offered brokerage services for the memecoin.
How high can its price go?
BONK’s price could soon go parabolic, fueled by recent developments and a potential breakout.
On the 3-day chart, the memecoin has been range-bound for nearly two years—a setup that often precedes explosive moves once resistance is breached.
Historically, BONK has acted as a high-beta proxy for Solana during bull runs, often behaving like a 3x leveraged play.
Notably, Solana recently flipped Binance Coin [BNB] in market cap, reaching $237, which adds bullish momentum to BONK’s outlook.
On the 4-hour chart, BONK must first break through the sell wall at $0.000026. The next resistance lies at $0.000032, with a technical target of $0.000038 if momentum continues.
Source: Bonk Guy/X
In conclusion, will the BONK move start soon and be aggressively explosive as analysts predict? The answer rested in the broader market reaction and the underlying regulatory frameworks.
If all this falls into place, BONK could be on the receiving end for what could be the most explosive crypto period, with institutions and retail actively involved.
