BONK Surges 10% as Tuttle Capital Sets July 16 as Earliest Launch Date for Its 2X Leveraged ETF | Breaking Crypto News & Blockchain Updates

BONK Surges 10% as Tuttle Capital Sets July 16 as Earliest Launch Date for Its 2X Leveraged ETF — BonkBONK$0.0₄1502surged 9.87% to $0.00001494 on July 2, extending recent gains across the Solana meme token space, according to CoinDesk Research's te...

BonkBONK$0.0₄1502surged 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 aForm N-1Aon Jan. 27, for a suite of leveraged ETFs, including a 2x Long BONK product. On July 1, the firm submitteda post-effective amendmentstating that the ETF could become effective no sooner than July 16. This means the product could launch after that date, pending regulatory clearance and operational readiness. The filing includes similar 2x long exposure funds for other assets, including SOL, TRUMP, MELANIA, XRP, ADA and LTC.

This update has rekindled investor interest in BONK, reflecting broader appetite for structured meme coin exposure via traditional financial instruments. However, the ETF is not yet approved, and the July 16 date only marks the earliest possible activation under current SEC procedures.

Elsewhere, BONK developers announced that the Saga phone token redemption program will officially end on July 31. Of the 20,000 allocations, roughly 17,599 have been claimed. Unclaimed tokens will be returned to the BONK DAO and earmarked for future ecosystem development. This change coincides with the launch of the Solana Seeker phone, signaling a transition in Solana Mobile’s device cycle.

Meanwhile, the Solana network continues to grow. DeFi Development Corp has joined as a validator, boosting infrastructure decentralization. The broader network has now surpassed 350 on-chain integrations, increasing the visibility and utility of tokens like BONK across DeFi and Web3 use cases.

Technical Analysis Highlights

Disclaimer:Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence toour standards. For more information, seeCoinDesk's full AI Policy.

Siamak Masnavi is a researcher specializing in blockchain technology, cryptocurrency regulations, and macroeconomic trends shaping the crypto market. He holds a PhD in computer science from the University of London and began his career in software development, including four years in the banking industry in the City of London and Zurich. In April 2018, Siamak transitioned to writing about cryptocurrency news, focusing on journalism until January 2025, when he shifted exclusively to research on the aforementioned topics.

CoinDesk Analytics is CoinDesk's AI-powered tool that, with the help of human reporters, generates market data analysis, price movement reports, and financial content focused on cryptocurrency and blockchain markets.

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