Market updates
Floki Token Heads to Institutional Markets with Planned ETP Launch
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2024-12-26 | 5m
The Floki cryptocurrency project is set to launch an exchange-traded product (ETP) in Europe by early 2025, making it only the second meme token, after Dogecoin, to achieve such a milestone. The Floki development team has collaborated with an unnamed asset manager and ETP issuer to create this institutional product, which will be available on the SIX Swiss Exchange, Europe’s third-largest stock exchange. This ETP aims to provide institutional and retail investors with regulated exposure to FLOKI tokens.
To support the initiative, the Floki DAO is voting on whether to allocate some of the 16 billion FLOKI tokens (valued at $2.8 million) held in the project’s treasury wallet to provide early liquidity for the ETP. If approved, these tokens would remain Floki's property and could be withdrawn once sufficient third-party liquidity is established.
The proposal is under review by the Floki community, with voting set to conclude on December 27. Details such as fund structure and opening prices remain undisclosed due to non-disclosure agreements. The project reflects Floki's evolution from a meme token to a utility-driven asset.
Source:
CoinDesk
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