Floki on Course for Europe ETP as DAO Floats Proposal to Provide Early Liquidity
A Floki exchange-traded product is set to go live in Europe in early 2025, a project developer told CoinDesk.
Concise Summary:
Floki, a meme-turned-utility project, is collaborating with an asset manager to launch a Floki exchange-traded product (ETP) tracking its FLOKI token in Europe in early 2025. The developers are seeking approval from the Floki DAO community to provide early liquidity for the ETP from a treasury wallet, with the tokens intended to enable institutional and retail investors to engage with FLOKI in a regulated manner on the SIX Swiss Exchange.
Key Insights:
1. Floki, a meme coin, is working on launching an ETP in Europe, potentially becoming the second meme token after Dogecoin to have an institutional product in the region.
2. The ETP for Floki is expected to go live in early 2025 on the SIX Swiss Exchange, allowing various investors to access FLOKI through regulated means.
3. The developers are seeking approval from the Floki DAO community to allocate tokens from a treasury wallet for early liquidity provision in the ETP.
4. The tokens used for liquidity will remain Floki’s property and can be withdrawn if enough third-party liquidity is present in the ETP.
5. Specific details about the ETP, such as opening prices and institutional partners, are not disclosed due to non-disclosure agreements.
6. Despite the lack of specific details, the Floki ETP project is seen as a significant step towards mainstream adoption of meme tokens in the financial market.
