Key Takeaways
- Floki plans to launch an ETP on SIX Swiss Change in early 2025.
- Group vote strongly helps allocating 16 billion FLOKI for ETP liquidity.
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Floki plans to launch an exchange-traded product (ETP) primarily based on its FLOKI token on Switzerland’s SIX Swiss Change in early Q1 2025. If accredited, this growth will make FLOKI the second memecoin to supply an institutional-grade funding car in Europe, following Dogecoin.
In line with a Dec. 25 assertion, the undertaking is working with an asset supervisor and ETP issuer to create a regulated funding product accessible to each institutional and retail traders.
The Floki DAO has additionally put ahead a proposal to allocate 16 billion FLOKI tokens, valued at roughly $2.8 million, from its treasury to supply liquidity for the ETP.
On the time of reporting, the proposal garnered robust help, with 204.9 billion votes solid in favor and no votes in opposition to or abstaining. This unanimous approval displays robust group backing for the Floki ETP initiative. The vote will conclude on Dec. 27.
The ETP will allow traders to realize publicity to FLOKI by regulated channels, connecting conventional finance with digital belongings.
Whereas particular particulars in regards to the product’s construction and pricing stay undisclosed as a result of confidentiality agreements, the undertaking maintains that the tokens used for liquidity will stay below Floki’s possession and may be withdrawn as soon as enough third-party liquidity is established.
SIX Swiss Change, the place the ETP will probably be listed, is Switzerland’s largest inventory change and ranks third in Europe by measurement.
The announcement comes after Floki rolled out a brand new debit card in partnership with Mastercard earlier this month. The cardboard, out there in each bodily and digital codecs throughout 31 European international locations, helps a number of crypto belongings, together with FLOKI, BTC, and USDT.
Past Bitcoin and Ethereum, funding merchandise now supply publicity to a wider vary of crypto belongings, together with more and more common choices like Solana and Ripple.
Final month, Valour, a subsidiary of DeFi Applied sciences, formally launched the first Dogecoin ETP on Sweden’s Highlight Inventory Market. The product permits retail and institutional traders within the Nordic area to realize publicity to DOGE, the seventh-largest crypto asset with out the complexities related to direct possession.
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