tl;dr
Floki, a meme coin, is collaborating with an undisclosed asset manager to develop an exchange-traded product (ETP) in the EU, set to be available to European investors in early 2025 pending approval. This would make Floki the second meme coin with an institutional-grade investment product in Europe ...
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Floki, a meme coin, is collaborating with an undisclosed asset manager to develop an exchange-traded product (ETP) in the EU, set to be available to European investors in early 2025 pending approval. This would make Floki the second meme coin with an institutional-grade investment product in Europe after Dogecoin.
The Floki DAO community is currently voting on allocating early liquidity for the ETP, which involves tokens valued at over $2.8 million. The ETP is planned to be listed on Switzerland’s SIX Swiss Exchange, targeting institutional and retail investors. Earlier this year, Floki DAO invested in the CAT token, inspired by the animated series "Simon’s Cat," reflecting Floki's entry into entertainment-themed meme coins.
The broader meme coin market has shown significant growth, with Floki itself gaining approximately 375% this year. Floki's planned ETP aims to capitalize on this growing interest, seeking to bridge the gap between meme coins and institutional adoption in a regulated setting.
If the plan goes forward, FLOKI will become the second meme coin with an institutional-grade investment product in Europe after Dogecoin (DOGE).
The Floki DAO community is currently voting on whether to allocate early liquidity for the ETP. It proposes using tokens from a treasury wallet containing 16 billion FLOKI, valued at over $2.8 million at current market prices.
The 48-hour vote is set to conclude at 11:00 UTC on December 27.
These tokens were acquired through open-market purchases following a previous community vote. If the community approves, they will be used to provide liquidity while remaining under Floki’s ownership. The tokens could be withdrawn if sufficient third-party liquidity emerges.
Meanwhile, the Floki ETP is reportedly nearing its final stages and is planned to be listed on Switzerland’s SIX Swiss Exchange. This is the largest stock exchange in the country and the third-largest in Europe.
Once launched, the ETP will offer institutional investors, regulated entities, and retail investors access to FLOKI within a regulated framework.
Earlier this year, Floki DAO announced a $200,000 USDT investment in the CAT token, a meme coin inspired by the animated series “Simon’s Cat.” This venture represented Floki’s entry into entertainment-themed meme coins. Following its launch, the CAT token surged over 250%, reaching a market capitalization of $275 million. However, it has seen consistent declines in December. Binance also listed the token earlier this month.
Overall, the broader meme coin market has shown significant growth throughout 2024, achieving a collective market cap of $112 billion. Floki itself reached an all-time high in June and has gained approximately 375% this year. Floki’s planned ETP is set to capitalize on this growing interest, aiming to bridge the gap between meme coins and institutional adoption in a regulated setting.
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