Floki DAO - the organization managing the memecoin Floki - has proposed to allocate part of its funds to an asset management company with the aim of launching exchange-traded products (ETP) in Europe, allowing institutional investors access to memecoin investment opportunities.
In a proposal submitted on December 25, members of Floki DAO are currently voting on whether liquidity should be allocated for the ETP. The proposal requests the use of a portion of the 16 billion FLOKI as liquidity for future funds.
The proposal is currently undergoing voting, which will last for 48 hours and end on December 27 at 11:00 UTC. If the vote is approved and the ETP proceeds, Floki DAO will become the second memecoin to have a registered ETP, alongside Dogecoin.
The initiative to develop ETP is part of Floki's broader strategy aimed at enhancing its utility and appeal in the highly competitive cryptocurrency space. The project has been actively engaging the community and exploring various financial products to strengthen its market presence. Community voting is crucial for the project's new investment opportunities in the European market. If the proposal is approved, it could support new investment opportunities for the project and enhance token liquidity, providing high potential for investors.
If the proposal passes, the number of FLOKI tokens required for the ETP needs to reach 16 billion, which is approximately 2.8 million dollars at the current price. These tokens will remain owned by Floki during the liquidity provision for the ETP and may be withdrawn if sufficient third-party liquidity is obtained.
Floki ETP is currently in the late stages and is expected to launch in early Q1 2025, preparing to be traded on Switzerland's SIX, the third-largest exchange in Europe. Once Floki ETP is launched, it will provide regulated access to FLOKI tokens for institutional investors, regulated entities, and individual investors.
According to Coingecko data, Floki is currently the seventh largest memecoin by total value, with a market capitalization of 1.7 billion dollars at the time of publication.
$FLOKI's current trading price is 0.00017 dollars. Despite recent price drops, this memecoin has risen by 400% since the beginning of this year.
"Floki DAO advances ETP listing in Europe, community vote will determine liquidity allocation" was first published on (Block客).
