Solana's Bonk Memecoin Lists on SIX Swiss Exchange via ETP

Key Takeaways:

• Bonk (BONK) listed on the SIX Swiss Exchange via an Exchange Traded Product (ETP).
• Investors can now access Bonk through standard brokerage accounts.
• Significant decline in memecoin value in 2025 after the boom in 2024.
• Prominent memecoins like PEPE, FLOKI, and WIF are down significantly from their all-time highs.

The Solana-based memecoin Bonk is now trading on Switzerland’s SIX Swiss Exchange after Bitcoin Capital listed a regulated exchange-traded product (ETP) tied to the token. This listing brings the memecoin into one of Europe’s major stock markets, allowing investors to gain exposure to Bonk (BONK) through standard brokerage accounts, eliminating the need for crypto wallets or direct token custody.

BONK is a dog-themed memecoin on the Solana blockchain that launched on Christmas Day 2022 via a community airdrop. It is marketed as “the first Solana dog coin for the people, by the people.” As of Thursday morning, the token was up approximately 5.8%. However, it remains down around 83% from its all-time high reached in November 2024.

Bitcoin Capital AG, based in Switzerland, is an issuer of crypto exchange-traded products. The European launch of the BONK ETP follows Grayscale’s introduction of a Dogecoin ETF in the United States on Monday. However, the fund's first-day trading volume was only about $1.4 million, falling short of the $12 million projected by Bloomberg ETF analyst Eric Balchunas.

Memecoins, cryptocurrencies whose value is predominantly driven by internet trends and community sentiment rather than underlying technical fundamentals, played a central role in the crypto narrative of 2024. Many of these tokens generated substantial profits for astute traders. However, the memecoin narrative has weakened considerably in 2025, and many of the tokens that prospered a year ago have experienced significant value declines.

According to data from CoinGecko, PEPE (PEPE), a frog-themed token on the Ethereum network, is down roughly 83% from its peak in December 2024. FLOKI (FLOKI), a dog-themed token built on the Ethereum and BNB Chain, has seen a similar downturn, falling over 85% from its high in June 2024. Dogwifhat (WIF), a Solana-based token, has been even more severely impacted, dropping more than 92% since its all-time high in March 2024.

Politically-themed memecoins have fared even worse. Official Trump (TRUMP), a token using U.S. President Donald Trump’s name without any confirmed affiliation, is down approximately 99.6% from its launch peak. As of Friday, the market capitalization of memecoins had decreased to $39.4 billion, the lowest level recorded in 2025, with approximately $5 billion wiped out in a single day, according to CoinMarketCap.