Floki (FLOKI) DAO members have unanimously agreed to allocate 16.3 billion tokens from the community buyback wallet as liquidity for an upcoming exchange-traded product (ETP). Scheduled to launch in Q1 2025, the Floki ETP will provide European investors access to the popular meme coin within the traditional finance market.
Community Endorses Floki ETP
For the first time, a Floki DAO proposal passed with zero opposition. This approval paves the way for Floki to become the second meme coin to launch on a regulated stock exchange, following Dogecoin’s example.
The Floki ETP will be listed on Switzerland’s SIX Swiss Exchange, Europe’s third-largest stock exchange. Currently, Floki ranks as the 8th largest meme coin by market cap, according to CoinGecko.
A spokesperson for Floki stated that the ETP listing would solidify the coin’s legitimacy while expanding its adoption across institutional and retail markets in Europe.
What Is an ETP?
An exchange-traded product (ETP) allows investors to trade assets like stocks or commodities on traditional exchanges. Unlike ETFs, ETPs have a unique structure but offer similar benefits. Floki’s ETP bridges the gap between cryptocurrency and traditional finance (TradFi), providing a regulated and transparent way to trade and hold the meme coin.
This milestone is part of Floki’s broader strategy to grow its ecosystem and connect with institutional markets.
Floki’s Recent Achievements
The Floki ETP is one of many milestones the project achieved in 2024. In November, the US Commodity Futures Trading Commission (CFTC) recognized Floki as a utility token during its Global Markets Advisory Committee meeting.
Other achievements include:
- Debit Card Launch: Floki introduced a Visa and Mastercard-compatible crypto debit card in December, allowing users to make payments worldwide.
- Educational Platform: The “University of Floki” crypto education platform launched to teach users about cryptocurrency and blockchain.
- Meme Coin Investment: Floki DAO invested $200,000 in the CAT token, a meme coin inspired by “Simon’s Cat,” which surged by over 250% at its peak.
Despite liquidations in the meme coin market, Floki saw a 375% rise in 2024. The broader market for meme coins achieved a $112 billion market cap.
Why the Floki ETP Matters
By launching an ETP, Floki aims to capitalize on the growing popularity of meme coins while bridging the gap between cryptocurrencies and institutional investors. As Floki’s ecosystem continues to expand, the ETP is expected to play a pivotal role in enhancing adoption and market presence.
