Meme coin Floki is collaborating with an undisclosed asset manager to develop an exchange-traded product (ETP) in the EU.
According to the latest announcement, this ETP will be available to European investors in early 2025, pending approval.
Meme Coin ETPs Are Becoming Increasingly Popular
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.
“We’ve been actively working with a respected Asset Manager and an ETP Issuer to launch a Floki ETP (Exchange-Traded Product) for quite a while now. After months of due diligence and painstaking effort, we’ve been told that the Floki ETP is on track to go live in early Q1, 2025,” Floki announced on X (formerly Twitter).
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 The tokens could be withdrawn if sufficient third-party liquidity emerges.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.
Meme Coins Continue to Grow
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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