The development team behind dog-themed meme asset Floki (FLOKI) announces a plan to launch a new exchange traded product (ETP).
In a new thread on the social media platform say it has worked closely with a respected asset manager to create a FLOKI-based ETP for European inventors, which will be launched in the first quarter of next year.
“We have been actively working with a respected asset manager and an ETP issuer for some time to launch a Floki ETP. After months of due diligence and painstaking efforts, we have been informed that the Floki ETP is on track to go live in early Q1 of 2025. This proposal is to have the Floki DAO (Decentralized Autonomous Organization) approve the liquidity for the Floki ETP! ”
An ETP allows investors to gain exposure to specific assets without actually purchasing them.
In the proposal the Floki team say The ETP is already in an advanced stage and will become tradable on the SIX Swiss Exchange, Switzerland’s largest stock exchange, next year, becoming the second meme coin in the world with a live ETP.
“When the Floki ETP goes live, institutional investors, regulated entities and retail investors will be able to gain exposure to FLOKI in a regulated manner.
This is a big step that is almost unprecedented in this space, as Dogecoin is currently the only memecoin in the world, with a live ETP, and Floki could become the next memecoin with an ETP alongside Dogecoin.”
The proposal also includes provisions for burning FLOKI tokens and providing liquidity for the ETP.
“The purpose of this DAO proposal is to request approval from the Floki DAO to provide liquidity to the ETP…
We currently have 16,310,285,772.6 FLOKI tokens in stock [a crypto wallet] and propose using some of it to provide liquidity for the ETP, while the rest is burned on the day the ETP is launched.”
FLOKI is trading at $0.000177 at the time of writing, up fractionally over the last 24 hours.
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