Floki DAO floats liquidity provisioning for a Floki ETP in Europe

If the vote is passed and the ETP is implemented, Floki DAO will become the second meme coin with a registered ETP, following Dogecoin.

Floki DAO is the organization that handles the memecoin. Floki has proposed dedicating a piece of its treasury to an asset manager to launch an exchange-traded product (ETP) in Europe, providing institutional investors with exposure to the memecoin.

Members of the Floki DAO are presently voting on whether to allocate liquidity for the ETP, as proposed on December 25. The idea suggests using a portion of the 16 billion FLOKI — worth $2.8 million at current prices — as liquidity for the future fund.

At the time of writing, 140 votes had been cast to support the plan, with 0 votes against. The voting period will expire at 11:00 UTC on December 27.

The Floki team announced that they have been negotiating with an unknown asset manager to develop an ETP for the meme coin in Europe.

“We’ve been told that the Floki ETP is on track to go live in early Q1, 2025,” claimed the holder who proposed it.

According to the announcement, Floki ETP will be traded on SIX Swiss Exchange, the largest stock exchange in Switzerland and the third largest in Europe.  

As a result of nondisclosure agreements, the team could not divulge further details about the ETP, but said it would be “executed by the mandate of the Floki DAO if the plan passes.”

Floki’s price has barely moved in response to the plan, trading down 6.2% in the last week, according to TradingView data.

According to Coingecko data, Floki is now the seventh largest meme coin in total value, with a market capitalization of $1.7 billion as of writing.

FLOKI is presently trading at $0.00017, and despite recent price declines, the meme coin has gained 400% since the beginning of the year.   If the application is granted, Floki will join Dogecoin as the second meme coin to have an exchange-traded product, giving institutional investors

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