Meme coin Floki is collaborating with an undisclosed asset supervisor to develop an exchange-traded product (ETP) within the EU.
In line with the newest announcement, this ETP can be obtainable to European traders in early 2025, pending approval.
Meme Coin ETPs Are Turning into More and more Widespread
If the plan goes ahead, FLOKI will develop into the second meme coin with an institutional-grade funding product in Europe after Dogecoin (DOGE).
The Floki DAO group is presently voting on whether or not to allocate early liquidity for the ETP. It proposes utilizing tokens from a treasury pockets containing 16 billion FLOKI, valued at over $2.8 million at present market costs. The 48-hour vote is ready to conclude at 11:00 UTC on December 27.
“We’ve been actively working with a revered Asset Supervisor and an ETP Issuer to launch a Floki ETP (Change-Traded Product) for fairly some time now. After months of due diligence and painstaking effort, we’ve been informed that the Floki ETP is on monitor to go reside in early Q1, 2025,” Floki introduced on X (previously Twitter).
These tokens had been acquired via open-market purchases following a earlier group vote. If the group approves, they are going to be used to supply liquidity whereas remaining beneath Floki’s possession. The tokens might be withdrawn if adequate third-party liquidity emerges.
In the meantime, the Floki ETP is reportedly nearing its remaining phases and is deliberate to be listed on Switzerland’s SIX Swiss Change. That is the most important inventory trade within the nation and the third-largest in Europe.
As soon as launched, the ETP will supply institutional traders, regulated entities, and retail traders entry to FLOKI inside a regulated framework.
Meme Cash Proceed to Develop
Earlier this 12 months, Floki DAO introduced a $200,000 USDT funding within the CAT token, a meme coin impressed by the animated collection “Simon’s Cat.” This enterprise represented Floki’s entry into entertainment-themed meme cash.
Following its launch, the CAT token surged over 250%, reaching a market capitalization of $275 million. Nevertheless, it has seen constant declines in December. Binance additionally listed the token earlier this month.
General, the broader meme coin market has proven vital development all through 2024, attaining a collective market cap of $112 billion. FLOKI itself reached an all-time excessive in June and has gained roughly 375% this 12 months.
Floki’s deliberate ETP is ready to capitalize on this rising curiosity, aiming to bridge the hole between meme cash and institutional adoption in a regulated setting.
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