Floki, a meme-turned-utility project, is working with an asset manager to develop an exchange-traded product (ETP) tracking its FLOKI token. This ETP could be available to investors in Europe early in the new year, making FLOKI the only meme token other than dogecoin with an institutional product in Europe. After months of due diligence, the developers have been told that the Floki ETP is on track to go live in early Q1, 2025.
The developers are seeking approval from the Floki DAO community to provide early liquidity to the product when it goes live. A vote is currently in progress and will end at 11:00 UTC on Dec. 27. They are looking to allocate FLOKI tokens required for the ETP from a treasury wallet that holds 16 billion tokens, worth just over $2.8 million. These tokens were purchased from the open market after a previous community vote.
If approved, the FLOKI tokens would provide liquidity for the ETP while remaining Floki’s property. They could be withdrawn if there is enough third-party liquidity in the ETP. The Floki ETP is expected to become tradable on the SIX Swiss Exchange, the largest stock exchange in Switzerland and the third-largest in Europe. This will allow institutional investors, regulated entities, and retail investors to get exposure to FLOKI in a regulated manner.
While the team is excited about the progress of the Floki ETP, they are unable to disclose further specifics due to non-disclosure agreements. This includes details such as opening prices, fund structure, and institutional partners. Despite this, FLOKI has seen a 1.1% increase in the past 24 hours, in line with the broader crypto market. The team is optimistic about the potential for the Floki ETP to attract a wide range of investors looking to gain exposure to the FLOKI token in a regulated environment.
Overall, the development of the Floki ETP represents a significant milestone for the project, potentially opening up new opportunities for investors in Europe. With the support of the Floki DAO community, the project is one step closer to making the ETP a reality. Once live, the Floki ETP will offer a regulated way for institutional investors, regulated entities, and retail investors to access the FLOKI token. As the project continues to evolve, it will be interesting to see how the market responds to this innovative new product.
