BONK Surges 10% as Tuttle Capital Sets July 16 as Earliest Launch Date for Its 2X Leveraged ETF
2025-07-02 20:17:20
Main Idea
BONK's price surged 10% as Tuttle Capital announced July 16 as the earliest potential launch date for its 2x leveraged BONK ETF, pending SEC approval, while BONK developers confirmed the end of the Saga phone token redemption program on July 31.
Key Points
1. BONK's price rose 9.87% to $0.00001494 on July 2, peaking at $0.00001524 before retracing.
2. Tuttle Capital filed a post-effective amendment stating its 2x leveraged BONK ETF could launch as early as July 16 if approved by the SEC.
3. BONK developers announced the Saga phone token redemption program will end on July 31, with unclaimed tokens returning to the BONK DAO for future ecosystem development.
4. The Solana network continues to grow, with DeFi Development Corp joining as a validator and surpassing 350 on-chain integrations.
5. Technical analysis noted a head-and-shoulders pattern forming, indicating potential price exhaustion, with support now seen around $0.0000142.
Description
Bonk (BONK) surged 9.87% to $0.00001494 on July 2, extending recent gains across the Solana meme token space, according to CoinDesk Research's technical analysis model. The move came amid fresh attention to Tuttle Capital’s proposed 2x Long BONK ETF, which has taken a procedural step forward but remains unapproved. Tuttle Capital originally filed a Form N-1A on Jan. 27, for a suite of leveraged ETFs, including a 2x Long BONK product. On July 1, the firm submitted a post-effective amendment stati...
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