Floki DAO announced on December 25 that it will collaborate with asset management companies and ETP issuers to launch the meme coin Floki (Exchange Traded Product) ETP. After several months of due diligence, Floki ETP is expected to officially list on the Swiss exchange SIX in the first quarter of 2025. If approved, Floki will become the second meme coin to launch a registered ETP after Dogecoin.
The community voting is currently very supportive, and Floki ETP may enter the mainstream market.
Floki DAO proposed to use 1.6 billion tokens valued at approximately 2.8 million USD, FLOKI, as liquidity for the ETP. The proposal is currently in the voting stage and will end on December 27 at 11:00 (UTC). So far, over 140 people have voted in support, with no opposition, indicating strong community support for this proposal.
Floki DAO stated that the issuance of Floki ETP is aimed at allowing institutional investors to enter the meme coin market in a compliant manner, which not only reduces risk but also increases transparency. It is expected that in the first quarter of 2025, Floki ETP will be listed on SIX, the third largest exchange in Europe and the largest in Switzerland, moving towards mainstream financial markets.
The first meme coin ETP launched earlier this year on November 26 by Valour in Toronto, Canada, was the Dogecoin ETP. If the Floki DAO proposal is approved, Floki will become the second meme coin to launch a registered ETP after Dogecoin.
Current market status of FLOKI
Despite the proposal being launched, the price of FLOKI has not shown significant movement. According to CoinGecko data, FLOKI currently has a market cap of nearly 1.7 billion USD, making it the seventh largest meme coin in the world. Although it has dropped 7.2% this week, it has surged 372% since the beginning of the year, showing strong long-term potential.
This article discusses Floki DAO's plan to launch the first Floki ETP in Europe! It is expected to become the second meme coin ETP after Dogecoin, first appearing in Chain News ABMedia.
