Floki (FLOKI) DAO members unanimously voted to make use of a portion of the funds from a group buyback pockets, totaling 16.3 billion tokens, as liquidity for the upcoming Floki exchange-traded product (ETP) within the EU.
The launch is scheduled for the primary quarter of 2025. The Floki ETP will present traders throughout the European conventional finance market with publicity to the meme coin.
For the primary time ever, the Floki DAO proposal was handed with out a single opposing vote. Now, Floki’s ETP is poised to change into the second meme coin to launch on a regulated inventory trade. The one different meme coin to take action was the Dogecoin ETP.
As soon as launched, Floki can be obtainable to commerce on Switzerland’s SIX Swiss Alternate, Europe’s third-largest inventory trade. In accordance with CoinGecko information, the meme coin is at the moment ranked because the eighth largest meme coin by market cap.
A Floki spokesperson said that the ETP itemizing would improve the legitimacy of the community-driven meme coin.
“Floki continues to innovate and work exhausting in direction of pushing adoption of its ecosystem in keeping with its mission to be the world’s most identified and most used cryptocurrency,” mentioned FLOKI DAO in a latest X put up.
By launching the ETP, Floki is aiming to attain wider adoption of its meme coin throughout the institutional retail market in Europe.
A Collection of Milestones
An ETP, much like an ETF however with a definite construction, permits traders to commerce property on inventory exchanges. The Floki ETP bridges the hole between conventional finance (TradFi) and cryptocurrency by enabling entry to its meme coin on regulated inventory exchanges.
This enables each institutional and retail traders to simply purchase and maintain Floki in a clear and controlled method. The approval of liquidity funding for its ETP marks simply one in all a number of of Floki’s latest successes.
In November, the US Commodity Futures Buying and selling Fee (CFTC) highlighted Floki as a case examine of a utility token alongside Ethereum and Avalanche at its International Markets Advisory Committee assembly.
Originally of December, Floki introduced that it had launched a debit card. This technique allowed Floki customers to pay with crypto in locations that settle for Visa or Mastercard.
In December, the meme coin additionally introduced the launch of a crypto schooling platform named the ‘College of Floki.’ Regardless of dealing with latest liquidations within the meme coin market, Floki has been considerably targeted on constructing an ecosystem round its flagship meme coin.
Earlier this yr, Floki DAO additionally invested $200,000 USDT in CAT, a meme coin impressed by “Simon’s Cat.” Following its launch, CAT surged over 250%, reaching a $275 million market cap, though it has since declined. Binance additionally listed the token shortly after its launch, which contributed to the worth rally.
General, the broader meme coin market achieved a collective $112 billion market cap in 2024. FLOKI itself gained roughly 375% all through 2024. To capitalize on this development and bridge the hole between meme cash and institutional adoption, Floki is continuous ahead with its plans to launch an ETP.
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