In the cryptocurrency market, the $BONK token has attracted the attention of countless investors with its unique charm and rapid growth. BONK's performance on the Solana network is particularly eye-catching. From a market value of $20 million in early November 2023 to $1.5 billion in mid-December, BONK has achieved an astonishing 75-fold increase in just one and a half months. BONK's ambitions go far beyond this. It is trying to set a new benchmark in the cryptocurrency market through a series of innovative initiatives.

Recently, Bonk announced the launch of the BONK ETP "Osprey BONK Trust", which has undoubtedly attracted widespread attention in the cryptocurrency community. The launch of the Osprey BONK Trust marks an important step for Bonk in attracting qualified investors. This trust is designed to provide investors who meet certain conditions with a simple, cost-effective way to acquire BONK tokens. But more importantly, it locks a portion of BONK tokens in the trust through a lock-up mechanism, thereby reducing the circulation in the market and helping to stabilize the token price.

The Osprey BONK Trust has strict definitions for qualified investors, including individuals with an annual income of more than $200,000 (or a combined annual income of more than $300,000 with a spouse and a net worth of more than $1 million), investment professionals, and entities with $5 million in liquid assets. These strict conditions ensure that only investors with certain financial resources and investment experience can participate in the trust. According to the terms of the trust, each trust share represents 216,999.02 BONK tokens, and the initial circulation is 9,792,000 shares. Therefore, a maximum of 2.12 trillion BONK tokens will be deposited in the trust, equivalent to a lock-up of $49.3 million in tokens, accounting for 3% of the total tokens. Although this figure is not large relative to the total market value of BONK, it is already considerable for a Meme token that is still growing.

The launch of the Osprey BONK Trust is attractive to outside funds. On the one hand, by purchasing BONK trusts through accounts such as 401 K, you can enjoy the benefits of tax deferral and pre-tax investment exemptions, and may obtain certain potential tax incentives.