The team behind the popular dog-themed meme coin Floki (FLOKI) has announced plans to launch a new exchange-traded product (ETP).
In a recent post on the social media platform X, the project revealed that they have been collaborating with a reputable asset manager to develop a FLOKI-based ETP for European investors, scheduled to be released in the first quarter of the upcoming year.
“After extensive collaboration with an asset manager and ETP issuer, we are excited to announce the upcoming launch of a Floki ETP in early Q1, 2025. The Floki DAO will need to approve liquidity for the ETP, marking a significant milestone for our project.”
An ETP provides investors with exposure to specific assets without requiring them to directly purchase them.
The Floki team stated in their proposal that the ETP is in its final stages and will soon be tradable on the SIX Swiss Exchange, the largest stock exchange in Switzerland, making Floki the second meme coin in the world to have a live ETP.
“The Floki ETP will offer institutional investors, regulated entities, and retail investors a regulated way to access FLOKI. This move sets Floki apart as a potential leader in the meme coin space, following in the footsteps of Dogecoin, the only other meme coin with a live ETP.”
The proposal also outlines plans to burn FLOKI tokens and provide liquidity for the ETP.
“This proposal seeks approval from the Floki DAO to allocate liquidity for the ETP. We currently hold a significant amount of FLOKI tokens and plan to use a portion for liquidity provision while burning the rest on the ETP launch day.”
At the time of writing, FLOKI is trading at $0.000177, showing a slight increase in the last 24 hours.
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