Floki Plans Exchange-Traded Product
Floki DAO, the company that oversees Floki, has suggested giving a portion of its treasury to an asset manager in an attempt to introduce an exchange-traded product (ETP) in Europe that would give institutional investors exposure to the meme coin
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Floki DAO members are now debating whether or not to allow liquidity for the ETP in an application filed on Christmas day. A portion of the 16 billion FLOKI, or about $2.1 million at current prices, will be used as liquidity for the fund.
The Floki team reported that they have been launching an ETP for the meme coin in Europe in collaboration with an undisclosed asset manager. The holder who proposed the Floki ETP stated, “We have been informed that the project is on track to go live in early Q1, 2025.”.
They added that the Floki ETP is now in a developed stage and will soon be tradable on the SIX Swiss Exchange, the biggest stock exchange in Switzerland and the third-largest in Europe.
The team stated that non-disclosure agreements prevented them from disclosing additional details about the ETP, when approved, it will be “executed in line with the Floki DAO’s mandate.”.
The proposal barely affected Floki’s price, which has since dropped by 6% in the past week. according to Binance data. The meme has a $1.07 billion market capitalization, making it the seventh-largest meme coin in total value.
However, the atmosphere on FLOKI, like on most meme-coins, is still unquestionably positive in the long run, and this euphoric trend is likely to continue, though some accidents are unavoidable. It is reasonable to question what further upward potential the most well-known tokens in this category may have, even though they have been exhibiting amazing gains in 2024.
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