# Solana-Based Meme Coin Bonk Gains Traction on Major Exchanges, Demonstrating Regulatory Compliance

Solana (SOL)-based meme coin Bonk (BONK) is making strides in the regulated financial ecosystem by gaining listings on several prominent exchanges. The token, now being traded on major global platforms, including South Korea’s Upbit and Bithumb, is enhancing the prospect of meme coins being integrated into regulated financial systems.

Generally perceived as risky due to regulatory challenges, meme coins have often been excluded from mainstream financial markets. However, Bonk is breaking this trend by aligning with the U.S. financial regulatory framework. Notably, Bonk has embarked on integrating with traditional finance, including initiatives like Osprey ETF (Exchange-Traded Fund). Its listings on regulated U.S. exchanges underscore its compliance capabilities, as these platforms require rigorous legal examinations before listing any cryptocurrency.

In late 2023, Coinbase, the largest cryptocurrency exchange in the United States, listed Bonk. This event was significant as it marked the first meme coin addition by Coinbase in two years, granting New York residents the ability to trade Bonk. Given New York’s stringent BitLicense regulations, this development highlights Bonk’s adherence to regulatory standards, mirroring the compliance status of Ripple (XRP) within the state.

Moreover, Bonk’s approval for trading in New York, under the BitLicense regime, is an essential milestone. It not only underscores Bonk’s compliance but also lays a foundation for its credibility within regulated financial environments.

In November 2024, Gemini, another major U.S. crypto exchange known for its rigorous regulatory standards, also listed Bonk. Gemini, notable for being one of the initial recipients of the BitLicense, now offers Bonk for both spot trading and futures products, fully supporting deposits and withdrawals. The inclusion of Bonk into Gemini’s portfolio, alongside existing meme coins like Dogecoin (DOGE) and Shiba Inu (SHIB), marks a significant expansion of Bonk’s market presence.

U.S.-based trading platforms evaluate internal legal and regulatory risks before listing cryptocurrencies. Bonk surpassing these evaluations indicates its sufficient decentralization and utility, characteristics that prevent it from being classified as a non-registered security. This regulatory compliance boosts Bonk’s potential to establish a foothold in the financial markets designed for regulated assets.

# Accelerating Entry into Traditional Financial Markets

Bonk is leveraging its regulatory compliance to push for integration with traditional financial markets actively. Unlike typical meme coins, Bonk is adopting a strategic approach favoring regulatory compliance by releasing Exchange-Traded Products (ETPs) and filing for ETF applications.

In 2024, Bonk collaborated with Osprey Funds to launch the Bonk Trust ETP. This product allows accredited investors to gain exposure to Bonk’s price movements without directly holding the token. The ETP is tradable via traditional brokerage accounts and Individual Retirement Accounts (IRAs), significantly enhancing investor accessibility.

This ETP launch underscores Bonk’s potential as a viable asset within regulated financial markets, laying the groundwork for sustainable investment products recognized under the U.S. financial laws.

Heading into the ETF market, Bonk has further ambitions. A cryptocurrency ETF application filed in January 2025 with the U.S. Securities and Exchange Commission (SEC) includes Bonk alongside other significant digital assets like Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Dogecoin (DOGE), and Ripple (XRP). If approved, Bonk could be one of the first meme coin ETFs in the market, signaling the acceptance of Bonk as a regulatable investment asset by existing financial institutions.

# Bonk Navigates Regulatory Hurdles to Solidify Market Position

A pseudonymous key contributor to Bonk, known as ‘Nom,’ welcomed these developments, stating, “Now is the perfect time to introduce Bonk to traditional investment markets.” He emphasized the importance of integrating with conventional finance, providing opportunities for investors who can’t use cryptocurrency wallets to gain exposure to Bonk.

The pursuit of ETP approval and ETF applications illustrates that Bonk is leading the way by showing that meme coins, given adequate regulatory compliance, can penetrate traditional financial markets. Steps such as transparent operations, reliable custody services, and thorough regulatory submissions are paramount.

In the U.S., the SEC and Commodity Futures Trading Commission (CFTC) regulate digital assets based on their classification as securities or commodities. To date, Bonk has been treated as a commodity, aligning with existing regulatory standards. Furthermore, no regulatory body has classified Bonk as a security. A recent filing by Crypto.com with U.S. authorities indicated that “Bonk has never been classified as anything other than a commodity under U.S. law.” This classification acknowledges Bonk’s role as a medium of exchange and value transfer, fitting the definition of a digital commodity asset.

If Bonk maintains its commodity status, it will fall under the CFTC’s jurisdiction like Bitcoin (BTC) and Ethereum (ETH). This distinction significantly reduces the legal risks compared to assets like Ripple (XRP), which face SEC scrutiny.

Bonk sets a new benchmark for regulatory-friendly meme coins, suggesting a future where meme coins could coexist with traditional financial markets. Industry experts note, “Under previous SEC leadership, the approval of a meme coin ETF was unlikely, but the regulatory landscape has shifted post-Trump administration, making such initiatives more viable.” Bonk’s ETF application indicates that significant financial institutions are evaluating it as a regulatable investment asset suitable for traditional market packaging.

Bonk’s strategy of balancing community-centric features with regulatory compliance presents an important experiment: demonstrating whether meme coins can find a place in traditional finance.