On December 25, Floki DAO officially announced a collaboration with asset management firms and ETP issuers to launch the Floki (exchange-traded product) ETP. After several months of due diligence, the Floki ETP is expected to be officially listed 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.
Community voting is currently quite supportive, and the Floki ETP may soon enter the mainstream market.
Floki DAO proposes to use 1.6 billion tokens valued at approximately 2.8 million USD as the liquidity for the ETP. The proposal is currently in the voting stage and will end on December 27 at 11:00 (UTC). So far, more than 140 people have voted in support, with no opposition, indicating strong community support for the proposal.
Floki DAO states that the issuance of the 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. The Floki ETP is expected to be listed on SIX, the third largest exchange in Europe and the largest in Switzerland, in the first quarter of 2025, moving towards mainstream financial markets.
The first meme coin ETP was launched by Valour in Toronto, Canada on November 26 this year, featuring Dogecoin. If the Floki DAO proposal passes, 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 changes. According to CoinGecko, FLOKI currently has a market cap of nearly 1.7 billion USD, making it the seventh largest meme coin globally. Although it dropped 7.2% this week, it has surged 372% since the beginning of the year, indicating strong long-term potential.
This article announces that Floki DAO plans to launch Europe’s first Floki ETP! It is expected to become the second meme coin ETP after Dogecoin, first appearing in Chain News ABMedia.
