Hey there! Have you heard about the popular meme coin Floki? Well, it seems they’re stepping up their game and collaborating with an undisclosed asset manager to create an exchange-traded product (ETP) specifically for their FLOKI token. This exciting development could potentially bring institutional investment to the table, making it a huge win for the project.
Not only does this move showcase Floki’s commitment to staying ahead of the curve, but it also opens doors for European investors who may have been hesitant to dive into the world of meme coins. If approved, Floki would be the first meme coin besides Dogecoin (DOGE) with an institutional product available in Europe.
According to Floki’s lead developer, B, the team has been working tirelessly alongside a respected asset manager and ETP issuer to ensure everything runs smoothly. After several rounds of due diligence and hard work, they anticipate the Floki ETP going live in early Q1 of 2023. To provide some initial liquidity for the product, the developers are seeking approval from the Floki DAO community.
They plan to use part of the project’s FLOKI treasury wallet, which holds around 16 billion tokens worth over $2.8 million at current prices. This move ensures that even though these tokens are providing liquidity for the ETP, they remain Floki’s property and can be withdrawn if needed. While details about the ETP remain undisclosed due to confidentiality agreements, we know it will be tradable on the SIX Swiss Exchange – one of Europe’s largest stock exchanges.
This opens up opportunities for both institutional and retail investors alike. Overall, this exciting collaboration between Floki and their undisclosed partner shows immense potential for growth within the meme coin space. With dedicated efforts towards regulatory compliance and institutional adoption, it seems like we can expect great things from Floki in the near future!
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The post Title: Floki (FLOKI) Developing Exchange-Traded Product With Institutional Partners for European Investors Early Next Year appeared first on CoinBuzzFeed.
