Floki DAO is taking steps to introduce an exchange-traded product (ETP) for the Floki memecoin. If approved, this move would make Floki the second memecoin, after Dogecoin, to have an ETP.
Proposal for Floki ETP Funding Underway
Floki DAO members are voting on a proposal to allocate part of the treasury to support the ETP launch. Submitted on Dec. 25, the proposal seeks to use 16 billion FLOKI, valued at $2.8 million, as liquidity for the fund.
At the time of writing, 140 votes had been cast in favor, with no opposition. Voting will conclude on Dec. 27.
Floki ETP to Debut on Swiss Exchange
The Floki team has been collaborating with an undisclosed asset manager to bring the ETP to life. If the proposal passes, the ETP is expected to launch in early Q1 2025.
Once live, it will trade on the SIX Swiss Exchange, Europe’s third-largest stock exchange and Switzerland’s largest. Details remain limited due to non-disclosure agreements, but the execution will align with Floki DAO’s mandate.
Floki’s Market Performance
Despite the excitement around the proposal, Floki’s price has dipped 6.2% in the past week, trading at $0.00017. However, the memecoin has gained 400% since the start of the year and holds a market cap of $1.7 billion, making it the seventh-largest memecoin by value.
If approved, the Floki ETP will join Dogecoin’s ETP, which launched in November 2024 via Toronto-based fund issuer Valour.
