If the vote is approved and the ETP proceeds, Floki DAO will become the second memecoin alongside Dogecoin to have a registered ETP.

Floki DAO — the governing organization of the memecoin Floki — has proposed allocating part of its treasury to an asset management company with the aim of launching an exchange-traded product (ETP) in Europe, allowing institutional investors access to memecoin.

In a proposal submitted on December 25, members of Floki DAO are currently voting on whether to allocate liquidity for the ETP. The proposal requests the use of part of the 16 billion FLOKI — worth 2.8 million dollars at the current price — as liquidity for the future fund.

As of the time of publication, there have been 140 votes in favor of this proposal, with none against. The voting period is expected to end on December 27.

The Floki team stated that they have been working with an unnamed asset manager to launch the ETP in Europe.

The holder proposing stated: "We have been informed that Floki ETP will go live in early Q1 2025".

“Floki ETP is currently in advanced development and will be traded on the SIX Swiss Exchange, the largest stock exchange in Switzerland and the third largest in Europe,” they added.

The team could not disclose further details about the ETP due to non-disclosure agreements but stated that if the proposal is passed, it will be "executed in accordance with Floki DAO's mission".

The price of Floki has hardly changed after the proposal and has dropped 6.2% in the past week, according to data from TradingView.

Floki is the seventh largest memecoin by total value, with a market capitalization of 1.7 billion dollars at the time of publication, according to data from CoinGecko.

FLOKI is currently trading at 0.00017 dollars and although it has recently shown a downward trend, this memecoin has increased by 400% since the beginning of the year.

If the proposal is approved, Floki will be alongside Dogecoin as the second memecoin to have an exchange-traded product, allowing institutional investors access to memecoin.

The cryptocurrency fund issuer based in Toronto, Valour, launched the first ETP for Dogecoin on November 26.