Tuttle Capital, an investment adviser firm with over $3.6 billion in assets under management, has filed for the second-ever spot Bonk (BONK) ETF. According to the SEC filing, Tuttle Capital filed for a Bonk Income Blast ETF with the United States Securities and Exchange Commission (SEC).
The fund manager filed with the SEC to offer a spot Bonk ETF alongside the Litecoin (LTC) income blast ETF and Sui (SUI) income blast ETF. As such, Tuttle Capital is the second U.S. fund manager to file to offer a spot Bonk ETF after Rex Shares and Osprey Funds earlier this year.
Why Is Tuttle Capital Interested in Bonk ETF?
The growing demand for Bonk by institutional investors, led by Tuttle Capital, is heavily influenced by its market dynamics. The mid-cap memecoin based on the Solana network, had a market cap of above $1.87 billion and a 24-hour trading volume of around $348 million.
The Bonk token is currently ranked the second largest memecoin after Pudgy Penguins (PENGU). With the anticipated crypto bull market before the end of fourth quarter, BONK price is expected to rally exponentially against Bitcoin, Ethereum, and Solana.
Why is the BONK Price Up Today?
Rising Demand from Institutional Investors and Ecosystem Growth
BONK price rose around 4% in the past 24 hours to trade about $0.00002426 at the time of this writing. The demand for BONK has continued to grow with its ecosystem.
The LetsBonk.fun platform for memecoin launches has seen its top meme dubbed Useless Coin gain market reputation. According to data from Nansen, the supply of BONK on crypto exchanges dropped by 22% during the past 30 days according to Nansen.
Is Bonk Price Out of the Woods for Short Term
From a technical analysis standpoint, BONK price has faced a major supply wall around the mid-July 2025 peak. However, a consistent close above $0.00004 will trigger a further bull rally, with minimal resistance.