The renowned dog-themed meme crypto Floki has set the crypto town abuzz, primarily with its looming ETP launch. Following the footsteps of Dogecoin, this looming exchange-traded-product launch has echoed substantial optimism over other meme coins’ future actions. Market watchers anticipate more such offerings ahead, primarily as the broader market expects more such financial products ahead.
Floki ETP Launch Echoes Optimism Over Other Meme Coins’ Future
Notably, the Floki community has been reportedly making monumental strides in the wake of its ETP creation. CoinGape recently reported that the token’s community has also passed a crucial proposal ensuring the creation of liquidation for an ETP launch.
Meanwhile, the community also aims to burn a certain amount of tokens in preparation for its ETP creation. Overall, the broader market expects the ETP creation to substantially bolster the price of the leading dog meme-themed crypto.
Notably, Dogecoin, another leading meme coin, that saw phenomenal gains this cycle, witnessed an ETP launch in November. The meme coin witnessed the Valour Dogecoin ETP launch, enhancing the meme-themed asset’s market visibility. Overall, these ETP launches have glimmered immense hope for future exchange-traded products backed by meme-themed coins such as BONK, PEPE, & others.
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Given that ETPs backed by other meme tokens are launched moving ahead, the broader sector could witness phenomenal gains. Previously, CoinGape reported that the Bonk community was eyeing an ETP launch in the U.S. for retail and institutional investors. Notably, the project’s team was in work with New York-based Osprey Funds for the ETP launch.
This saga has injected an additional dose of optimism among investors expecting other meme coin-backed ETPs. While Floki ETP is expected to bring more institutional interest toward the coin, it could also pave the way for other meme coin ETPs as well, causing a bullish ripple effect for the broader sector.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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