Floki DAO announced on 12/25 that it will collaborate with asset management companies and ETP issuers to launch meme coin Floki (exchange trading product) ETP. After several months of due diligence, Floki ETP is expected to be officially listed on the Swiss exchange SIX in the first quarter of 2025. If successful, Floki will become the second meme coin to launch a registered ETP after DOGE (Dogecoin).
Currently, the community vote is very supportive, and Floki ETP may enter the mainstream market.
Floki DAO proposes to use 160 million FLOKI coins, with a market value of approximately $2.8 million, as liquidity funds for ETP. The proposal is currently in the voting stage and will end at 11:00 (UTC) on 12/27. As of now, there have been more than 140 votes in favor and no opposition, demonstrating strong community support for this proposal.
Floki DAO states that the issuance of Floki ETP is to allow institutional investors to join the meme coin market in a compliant manner, which can not only reduce risks but also increase 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, advancing into the mainstream financial market.
The first meme coin ETP was the DOGE (Dogecoin) ETP launched by the Canadian Toronto Valour company on 11/26 this year. If the proposal of Floki DAO is approved, Floki will become the second meme coin to launch a registered ETP after DOGE.
FLOKI Market Status
Despite the proposal being launched, the price of FLOKI’s coin has not changed significantly. According to CoinGecko data, FLOKI’s current market value is close to 1.7 billion dollars, making it the seventh largest meme coin globally. Although it fell by 7.2% this week, it has soared by 372% since the beginning of the year, showing considerable long-term potential.
This article introduces the Floki DAO’s plan to launch the first Floki ETP in Europe! It is expected to become the second meme coin ETP after DOGE, which first appeared on Chain News ABMedia.
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