Hey there! I just read an interesting news update about Floki DAO, the community behind the popular memecoin Floki. They’re proposing to allocate a part of their treasury to an asset manager to launch an exchange-traded product (ETP) in Europe. This move would allow institutional investors to get involved with Floki.
So far, the proposal has received positive feedback with 140 votes in favor and no votes against it. The decision will be finalized on December 27th. It’s fascinating to see how Floki is taking steps towards becoming more mainstream by exploring options for wider adoption. With the help of an undisclosed asset manager, they aim to launch their ETP on the SIX Swiss Exchange, which is one of the largest stock exchanges in Europe.
While we don’t have many details yet about the specifics of this ETP, it shows that Floki is serious about expanding its reach beyond just retail investors. However, it’s worth noting that despite this exciting development, the price of Floki has been experiencing some fluctuations recently. Despite posting significant gains this year, it’s currently trading down 6.2% from last week according to TradingView data.
This just goes to show that cryptocurrencies can be quite volatile and unpredictable even when major developments happen within the community. Overall, it seems like Floki DAO is making strides towards legitimizing themselves and their coin through these strategic partnerships and moves towards institutional adoption.
We’ll just have to wait until next month to see how things pan out for them!
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The post Title: Floki DAO Proposes Allocating Treasury Funds to Launch European Exchange-Traded Product for Memecoin appeared first on CoinBuzzFeed.
