Floki, the meme coin gaining popularity among crypto enthusiasts, may soon be accessible to institutional investors through a groundbreaking exchange-traded product (ETP).
The Floki DAO, the decentralized autonomous organization overseeing the cryptocurrency, has proposed allocating a portion of its treasury to establish this ETP in Europe.
Institutional Investors Target Floki
The proposal, submitted on December 25, outlines plans to utilize 16 billion FLOKI tokens from the treasury as liquidity for the future ETP. This product aims to provide institutional investors with streamlined access to FLOKI, marking a significant milestone for the meme coin’s adoption.
As of now, 140 votes have been cast in favor of the proposal, with none against. Voting is set to close at 11:00 UTC on December 27, leaving the decision in the hands of the DAO members.
ETP Launch on Swiss Exchange
If approved, the Floki ETP is expected to launch in early Q1 2025 and will be listed on the SIX Swiss Exchange, Switzerland’s largest stock exchange and the third largest in Europe. Due to non-disclosure agreements, the Floki team has refrained from sharing additional details at this time.
A Second for Meme Coins
Should the proposal pass, Floki would become the second meme coin after Dogecoin (DOGE) to achieve the distinction of having an exchange-traded product. Dogecoin’s ETP, launched by Valour, a subsidiary of DeFi Technologies, debuted on November 26 in response to growing demand for the cryptocurrency.
A Promising Step for Floki
The potential launch of a Floki ETP represents a pivotal step in the coin’s journey, bridging the gap between retail and institutional investors. By offering easier access to FLOKI, the initiative could significantly boost its adoption and legitimacy in the financial market.
As the crypto industry continues to mature, Floki’s move toward institutionalization signals a new era for meme coins, once considered niche digital assets. All eyes are now on the Floki DAO vote, which could set the stage for a major leap in the coin’s evolution.
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