Tuttle Capital’s Planned July 16 Launch of 2X Leveraged ETF Sparks 10% BONK Surge

BONK Gains Nearly 10% as Tuttle Capital Sets Mid-July as Earliest Launch for Potential 2x Leveraged ETF

BONK’s price rose to $0.00001494 on July 2, marking a 9.87% increase as the Solana-based meme token continued its upward trajectory, according to data from CoinDesk Research’s technical analysis.

The latest surge was driven in part by renewed interest surrounding Tuttle Capital’s proposed 2x Long BONK ETF, which has advanced through regulatory steps but is still pending approval for trading.

Tuttle Capital initially submitted a Form N-1A filing on January 27, outlining plans for several leveraged ETFs, including one offering double-long exposure to BONK. An updated filing on July 1 revealed that the fund could become effective as early as July 16, although its official debut still depends on regulatory sign-offs and operational readiness. Tuttle’s filings also mention possible 2x leveraged funds tied to other tokens like SOL, TRUMP, MELANIA, XRP, ADA, and LTC.

News of the potential ETF launch has reignited enthusiasm around BONK, reflecting strong investor interest in accessing meme coins through traditional financial vehicles. However, it’s crucial to note the ETF has not yet been approved, and July 16 represents only the earliest possible effective date under SEC rules.

In related developments, BONK’s ecosystem is preparing for changes. Developers announced that the Saga phone token redemption initiative will end on July 31. Out of the 20,000 tokens initially allocated, approximately 17,599 have already been claimed. Any remaining tokens will revert to the BONK DAO to support future ecosystem projects. The conclusion of the redemption coincides with Solana’s launch of the new Seeker phone, signaling an evolution for Solana Mobile’s hardware offerings.

Meanwhile, the Solana network continues to grow. DeFi Development Corp has joined as a new validator, contributing to greater decentralization and security. Solana now boasts over 350 on-chain integrations, expanding practical uses and enhancing visibility for tokens like BONK across the DeFi and broader Web3 ecosystems.

Technical Analysis Highlights

• BONK advanced from $0.0000136 to a high of $0.00001524, an increase of 12.1%, before settling at $0.00001494.
• The price broke past resistance at $0.0000144 during the 16:00 UTC hour amid heavy trading volume of 1.38 trillion tokens.
• A head-and-shoulders pattern emerged between 16:48 and 17:47 UTC, signaling potential buyer fatigue.
• A slip below $0.00001500 triggered strong selling pressure, with 73.9 billion tokens traded during the 17:39 candle.
• New support has developed around $0.0000142, reinforced by significant buying during the 13:00 UTC hour.
• Heightened volatility and trading activity suggest continued short-term speculation around BONK.