The Floki DAO has given the green light for a proposal to allocate some of Floki’s token supply as liquidity funding for an exchange-traded product (ETP). This significant move by the decentralized autonomous organization that supports the FLOKI project involves using a portion of the 16.3 billion FLOKI tokens, housed in the community buyback wallet, to finance the forthcoming Floki ETP. The remaining tokens from this wallet will be permanently burned.
Floki is set to join Dogecoin as one of the few meme coins to offer an ETP on a regulated stock exchange. The Floki ETP is anticipated to debut on the SIX Swiss Exchange by the first quarter of 2025. This strategic initiative aims to foster the adoption of the Floki meme coin within the traditional financial market, serving as a bridge between traditional finance and cryptocurrency.
A project advisor commented on the impending launch, emphasizing that listing on the SIX Swiss Exchange—the largest stock exchange in Switzerland and the third largest in Europe—marks a rare leap toward legitimizing meme coins.
The U.S. Commodity Futures Trading Commission recently acknowledged Floki as a utility token, alongside Ethereum and Avalanche, during a session of the agency’s Global Markets Advisory Committee in November, further boosting its profile. This acknowledgment is also tied to the upcoming launch of Floki’s game, Valhalla.
The Floki ETP represents just one chapter in the project’s ongoing expansion. Previously, Floki launched its educational platform, the University of Floki, and rolled out a debit card accessible in 31 European countries.
Interest in cryptocurrency investment products continues to grow, evidenced by the U.S. Securities and Exchange Commission’s approval of Bitcoin and Ethereum spot ETFs. Other filings have been made for Solana, XRP, and Litecoin ETFs, indicating robust investor interest in crypto assets and the enduring appeal of cryptocurrencies, meme coins, artificial intelligence, and real-world assets in 2024.
