what's Osprey BONK Trust?

The Osprey BONK Trust (OBNK) is an investment trust managed by Osprey Funds that provides exposure to BONK, a meme coin native to the Solana blockchain. It enables investors to gain indirect access to BONK's price performance through shares of the trust, without the need to directly purchase or custody the underlying token on-chain. The trust holds BONK reserves to back its shares.

OBNK went live, enabling US users to accumulate BONK exposure.