Solana’s memecoin Bonk is officially trading on Switzerland’s SIX Swiss Exchange following the listing of a regulated exchange-traded product (ETP) connected to the token. This move marks a significant entry into one of Europe’s most prominent stock markets, enabling investors to access Bonk (BONK) via traditional brokerage accounts without requiring wallets or direct token management.

Launched on Christmas of 2022, BONK positions itself as “the first Solana dog coin for the people, by the people.”

As of Thursday morning, the token reported an increase of approximately 5.8%, although it remains down about 83% from its peak value recorded in November 2024.

Bonk Memecoin Source: CoinGecko

Bitcoin Capital AG is known for being a Switzerland-based issuer of cryptocurrency exchange-traded products.

The launch of the BONK ETP in Europe comes shortly after Grayscale introduced a Dogecoin ETF in the United States, which faced a disappointing first-day trading volume of about $1.4 million, falling considerably short of the $12 million initially predicted, as noted by Bloomberg’s ETF analyst Eric Balchunas.

The Decline of Memecoins in 2025

Memecoins, which derive their value mainly from internet culture and community sentiment rather than technical fundamentals, were a driving force in the cryptocurrency narrative of 2024. Many of these coins provided substantial returns for perceptive traders.

However, in 2025, the enthusiasm surrounding memecoins has significantly waned, with many previously successful tokens facing dramatic losses. According to data from CoinGecko, PEPE, a meme token on Ethereum, has dropped about 83% from its peak in December 2024. Similarly, FLOKI, another dog-themed cryptocurrency from Ethereum and BNB Chain, has seen more than an 85% decline from its high point in June 2024.

Dogwifhat, related to the Solana network, has suffered considerably, plummeting over 92% since its all-time high in March 2024.

Politically themed memecoins have encountered even steeper declines. The Official Trump token, using Donald Trump’s name without verified endorsement, is down approximately 99.6% since its launch peak.

Recent reports indicate that the market capitalization of memecoins has dwindled to $39.4 billion, the lowest valuation recorded in 2025, with nearly $5 billion lost in just a single day, as per CoinMarketCap.