The outstanding surge in BONK's price is closely linked to a recent strategic move in the dynamic ETF market. Tuttle Capital, a prestigious and renowned financial firm, has amended its application to the U.S. Securities and Exchange Commission (SEC). In this amendment, the firm seeks final approval for a series of leveraged ETFs, among which, surprisingly, one would be designed to track the performance of BONK. The mere possibility of launching this ETF has ignited fervent anticipation among investors.
This news has had a substantial impact on BONK's trading activity, with net cash inflows skyrocketing to impressive levels. In light of the prospect that an ETF could attract large institutional investors, market analysts are forecasting a continued rise in the token's value. BONK's net cash inflows have experienced an astonishing increase of over 100% in just 24 hours, reaching the figure of $1.68 million.
Do you think this push for the ETF will be enough for BONK to maintain its upward trajectory in the long term?