Tuttle Capital Sets July 16 Earliest Launch for 2X Leveraged ETF, Sending BONK Up 10%

BONK Climbs Nearly 10% as Tuttle Capital Eyes Mid-July for Possible 2x Leveraged ETF Launch

BONK’s price surged to $0.00001494 on July 2, gaining 9.87% as the Solana meme coin continued its strong momentum, according to CoinDesk Research’s technical analysis data.

The rally was fueled by renewed excitement surrounding Tuttle Capital’s proposed 2x Long BONK ETF, which has progressed through regulatory filings but hasn’t yet been approved for launch.

Tuttle Capital first submitted a Form N-1A filing on Jan. 27 for a range of leveraged ETFs, including one that offers double-long exposure to BONK. On July 1, the firm filed an updated amendment suggesting the ETF could become effective as soon as July 16, though an official launch date remains dependent on regulatory approval and operational readiness. Tuttle’s filings also mention possible 2x leveraged funds for other assets, such as SOL, TRUMP, MELANIA, XRP, ADA, and LTC.

News of the potential ETF has reignited investor interest in BONK, reflecting the broader enthusiasm for accessing meme coins through traditional financial products. However, it’s crucial to note that the ETF still awaits regulatory approval, and July 16 is merely the first date it might be eligible to go live under SEC guidelines.

Elsewhere in the BONK ecosystem, developers announced that the Saga phone token redemption program will officially close on July 31. Of the 20,000 token allocations available, about 17,599 have already been claimed. Any remaining tokens will be transferred back to the BONK DAO for future ecosystem initiatives. This update coincides with the rollout of Solana’s new Seeker phone, signaling the next chapter for Solana Mobile’s hardware offerings.

Meanwhile, the Solana network continues to expand. DeFi Development Corp has joined as a new network validator, contributing to increased decentralization and network security. Overall, Solana now boasts over 350 on-chain integrations, further boosting practical uses and visibility for tokens like BONK across DeFi and the broader Web3 ecosystem.

Technical Analysis Highlights

BONK rose from $0.0000136 to a high of $0.00001524, marking a 12.1% increase before settling at $0.00001494.
The price broke through resistance at $0.0000144 during the 16:00 UTC hour, driven by strong volume of 1.38 trillion tokens.
A head-and-shoulders pattern developed between 16:48 and 17:47 UTC, hinting at potential buying fatigue.
A dip below $0.00001500 triggered significant selling pressure, with 73.9 billion in trading volume during the 17:39 candle.
New support has emerged around $0.0000142, reinforced by intense buying during the 13:00 UTC hour.
Elevated volatility and trading activity suggest ongoing short-term speculation around BONK.