Tuttle Capital Files for Second Spot Bonk ETF
Tuttle Capital, an investment advisory firm managing over $3.6 billion in assets, has submitted an application for the second-ever spot Bonk (BONK) ETF. As noted in the SEC filing, Tuttle Capital has filed for a Bonk Income Blast ETF with the United States Securities and Exchange Commission (SEC).
The fund manager has applied with the SEC to introduce a spot Bonk ETF alongside the Litecoin (LTC) income blast ETF and the Sui (SUI) income blast ETF. Consequently, Tuttle Capital becomes the second U.S. fund manager to pursue a spot Bonk ETF, following Rex Shares and Osprey Funds, which filed earlier this year.
Growing Demand from Institutional Investors
The increasing interest in Bonk from institutional investors, spearheaded by Tuttle Capital, is significantly shaped by its market dynamics. The mid-cap memecoin, which operates on the Solana network, maintains a market cap exceeding $1.87 billion and a 24-hour trading volume of approximately $348 million.
The Bonk token currently ranks as the second-largest memecoin, trailing only Pudgy Penguins (PENGU). With an anticipated crypto bull market expected to occur before the end of the fourth quarter, the price of BONK is projected to surge against Bitcoin, Ethereum, and Solana.
Recent Price Performance
At the time of writing, the price of BONK increased by about 4% in the past 24 hours, trading around $0.00002426. The demand for BONK continues to expand, benefitting its ecosystem.
The LetsBonk.fun platform, known for memecoin launches, has seen its top meme, Useless Coin, gaining market recognition. Data from Nansen indicates that the supply of BONK on cryptocurrency exchanges declined by 22% over the last 30 days.
Technical Analysis Insights
From a technical analysis perspective, the price of BONK has encountered a significant supply wall around the peak of mid-July 2025. Nevertheless, a sustained close above $0.00004 would trigger a further bullish rally, facing minimal resistance.
