Floki, a meme-based project, has initiated efforts to launch its popular token, FLOKI, as an exchange-traded product (ETP). Collaborating with an undisclosed asset manager, Floki developers aim to present the ETP to investors in Europe by early 2024.
ETP Approval Process and Community Voting
The Floki developers plan to secure the approval of the Floki DAO community as a priority for the new investment product. To facilitate early liquidity, they have requested approval for the allocation of FLOKI tokens. The voting will last for 48 hours, concluding on December 27 at 11:00 UTC. If the vote is favorable, a certain amount of FLOKI tokens will be allocated from the treasury wallet controlled by Floki DAO for the ETP.
The treasury wallet, previously acquired through community voting, contains a reserve of 16 billion FLOKI tokens bought on the open market. The allocated tokens will remain under the ownership of Floki developers and can be withdrawn again if sufficient liquidity is achieved. Acceptance of this proposal by the community could support the project’s new investment opportunities in the European market.
FLOKI Token May List on SIX Swiss Exchange
According to the Floki developers, the ETP is currently in advanced stages and is preparing to trade on SIX Swiss Exchange, Europe’s third-largest exchange. One of the project developers stated, “The Floki ETP will provide regulated access to FLOKI tokens for institutional investors, regulated entities, and individual investors.”
However, details regarding the ETP’s fund structure, opening prices, and corporate partners cannot be disclosed due to confidentiality agreements. Nevertheless, developers expect this step to enhance token liquidity and offer high potential for investors. The FLOKI token has shown positive market performance, gaining 1.1% in value in the last 24 hours.
If the Floki ETP is launched, it could stand out in the European market as a unique meme token investment vehicle. This is anticipated to provide a significant opportunity for building stronger connections with institutional investors and enhancing the market position of the Floki token.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
