Floki, a popular meme coin, is making waves in the cryptocurrency world by collaborating with an undisclosed asset manager to develop a new exchange-traded product (ETP) in the EU. This announcement comes as meme coin ETPs are becoming increasingly popular among investors. If approved, Floki will become the second meme coin with an institutional-grade investment product in Europe after Dogecoin.
The Floki DAO community is currently voting on whether to allocate early liquidity for the ETP, with a proposal to use tokens from a treasury wallet containing 16 billion FLOKI. This move aims to provide liquidity while maintaining ownership of the tokens under Floki’s control. The tokens were acquired through open-market purchases following a previous community vote and could be withdrawn if sufficient third-party liquidity emerges.
The Floki ETP project is in its final stages and is planned to be listed on Switzerland’s SIX Swiss Exchange, the largest stock exchange in the country and third-largest in Europe. Once launched, the ETP will offer institutional investors, regulated entities, and retail investors access to FLOKI within a regulated framework. This move is expected to bridge the gap between meme coins and institutional adoption in a regulated setting.
In addition to the ETP project, Floki DAO recently made a $200,000 USDT investment in the CAT token, a meme coin inspired by the animated series “Simon’s Cat.” Although the CAT token saw a surge of over 250% upon launch with a market capitalization of $275 million, it has experienced declines in December. Binance also listed the token earlier this month, showcasing the growing interest in meme coins.
Overall, the meme coin market has been thriving in 2024, with a collective market cap of $112 billion. FLOKI itself reached an all-time high in June and has gained approximately 375% this year. With the planned ETP launch in early 2025, Floki is poised to capitalize on this growth and provide more investment opportunities for both retail and institutional investors.
In conclusion, Floki’s collaboration with an asset manager to develop a meme coin ETP marks a significant development in the cryptocurrency space. The ETP project aims to bring meme coins to a wider audience of investors in a regulated environment, further legitimizing the meme coin market. As meme coins continue to grow in popularity, projects like the Floki ETP will play a crucial role in bridging the gap between retail and institutional adoption of these digital assets.
