In a pivotal move, Floki DAO, the governing body behind the Floki cryptocurrency project, has approved a proposal to allocate part of its token supply for liquidity funding of a new exchange-traded product (ETP) dedicated to Floki. This proposal, which was passed unanimously by the decentralized autonomous organization (DAO), will utilize a portion of the 16.3 billion FLOKI tokens held in the community buyback wallet to finance the launch of the Floki ETP. The remaining tokens will be permanently burned, contributing to a deflationary token model.
The Floki ETP, set to debut in the first quarter of 2025, is positioned to be a groundbreaking product in the meme coin sector. Once launched, it will make Floki one of only two meme coins—alongside Dogecoin—to be available through a regulated exchange. The Floki ETP will be listed on the SIX Swiss Exchange, Switzerland’s largest stock exchange and the third-largest in Europe, marking a significant step for the meme coin in its quest for legitimacy within traditional financial markets.
A project advisor emphasized the historic nature of the move, stating, “The Floki ETP will be launched on the SIX Swiss Exchange, marking a major milestone in the legitimacy of memecoins on a regulated platform.”
This latest development follows Floki’s recent recognition by the U.S. Commodity Futures Trading Commission (CFTC), which identified the coin as a utility token, alongside major assets like Ethereum and Avalanche. This acknowledgment was highlighted during the global Markets Advisory Committee meeting in November, where Floki’s upcoming game, Valhalla, played a key role in its utility status.
The approval of the Floki ETP aligns with the project’s broader strategy to expand its reach and adoption within the traditional finance sector. It is just one of several ambitious initiatives undertaken by the Floki project, which recently launched the University of Floki and introduced the Floki Debit Card across 31 European countries.
The move also comes at a time of increasing interest in crypto-based investment products. In 2024, the U.S. Securities and Exchange Commission (SEC) approved both Bitcoin and Ethereum spot ETFs, and issuers have also filed for ETFs linked to Solana, XRP, and Litecoin. The crypto market’s strong performance, including Bitcoin’s surge to new highs and the growing popularity of meme coins and AI-powered assets, further underscores the potential for the Floki ETP’s success.
As the crypto industry continues to integrate with traditional finance, the Floki ETP stands as a key step in bridging the gap between these two worlds.
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