In a recent conversation, CNBC host Jim Cramer posed a question to Gary Gensler, Chairman of the US Securities and Exchange Commission (SEC), regarding the possibility of Exchange-Traded Funds (ETFs) for lesser-known cryptocurrencies like Bonk and SushiSwap. This inquiry came as part of a broader discussion on the SEC's approvals of Bitcoin and Ethereum ETFs, as well as potential future developments in the space.

Cramer specifically mentioned various cryptocurrencies, including Cardano, Cosmos, Immutable, Ronin, and MyNeighborAlice, that had significant trading volumes on Wednesday morning. He expressed his view that Bonk, in particular, is a natural fit for an ETF, given its substantial trading activity. Gensler, however, did not provide a direct response to Cramer's question but instead highlighted the general lack of necessary disclosures from crypto tokens, implying that many may be unregistered securities.

Gensler also criticized crypto exchange platforms for engaging in practices that would not be tolerated in traditional exchanges like the New York Stock Exchange. He pointed out the prevalence of bankruptcies and legal issues within the crypto space, emphasizing that even prominent figures are facing legal consequences.

Regarding the recently approved Ethereum spot ETFs, Gensler noted that it will take some time before they can be listed on public exchanges. In a previous statement, BlackRock's Head of Digital Assets expressed limited interest in altcoin ETFs, citing Bitcoin as the top priority for their clients.

The discussion between Cramer and Gensler highlights the ongoing debate surrounding the regulation and mainstream acceptance of cryptocurrencies. While some argue that ETFs for meme coins like Bonk and SushiSwap could increase adoption and legitimacy, others raise concerns about the lack of transparency and potential risks associated with these assets. As the crypto landscape continues to evolve, it remains to be seen how regulators and investors will respond to these emerging assets.