Floki DAO has approved the liquidity fund for its ETP (Exchange Traded Product) which will be launched in the first quarter of 2025. This launch will make Floki the second meme coin to list an ETP on a European exchange after Dogecoin.
Floki continued to expand its ecosystem throughout 2024. Steps such as debit cards, Floki University, and CAT meme coin investment increased community interest. Floki DAO members decided to use 16.3 billion tokens from the community buyback wallet to provide liquidity for the Floki ETP to be launched in Europe.
Floki ETP stands out as a product that is planned to be launched in the first quarter of 2025 and will offer investors in traditional European financial markets the opportunity to invest in a meme coin. Floki DAO members accepted this proposal for the first time without a single vote against it. With this development, Floki is preparing to become the second meme coin to be traded on a regulated exchange. The Dogecoin ETP was the first to be listed.
After the launch, Floki will be listed on Switzerland’s SIX Swiss Exchange, the third largest exchange in Europe. According to CoinGecko data, Floki currently ranks as the 8th largest meme coin by market cap. A Floki spokesperson stated that the ETP listing will increase the legitimacy of Floki, a community-focused meme coin.
“Floki DAO continues to innovate and work hard to increase adoption of Floki’s ecosystem, with a mission to become the world’s most recognized and widely used asset in the crypto space,” Floki DAO said in a statement. By launching the ETP, Floki aims to provide broader access to its meme coin to institutional and individual investors in Europe.
While an ETP allows investors to buy and sell assets on exchanges with its ETF-like structure, the Floki ETP will bridge the traditional financial world with cryptocurrencies. This product will allow investors to transparently and securely buy and hold Floki on regulated exchanges. The approval of liquidity funding for the ETP is just one of Floki’s recent achievements.
Last November, the US Commodity Futures Trading Commission (CFTC) highlighted Floki as a utility token alongside Ethereum and Avalanche at its Global Markets Advisory Committee meeting. In December, Floki also announced the Floki debit card, which allows Floki users to pay with crypto wherever they accept Visa and Mastercard. Around the same time, it also launched a crypto education platform called Floki University.
Despite the recent fluctuations in the meme coin market, Floki has been pursuing a strong ecosystem-building and community-driven growth strategy. Earlier this year, Floki DAO invested 200,000 USDT in CAT, a meme coin inspired by “Simon’s Cat.” CAT gained over 250% in value after its launch, but then experienced a decline. Binance listed the CAT token shortly after, contributing to the price increase.
By 2024, the meme coin market has reached a total market value of $112 billion. Floki gained approximately 375% over the year. In order to capitalize on this growth and increase institutional adoption of meme coins, Floki continues its plans to launch the ETP.