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 The tokens could be withdrawn if sufficient third-party liquidity emerges.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 countr

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Author: Mohammad Shahid