The team behind dog-themed meme asset Floki (FLOKI) has announced plans to launch a new exchange-traded product (ETP).
In a new thread on social media platform
“We have been actively working with respected asset managers and ETP issuers to launch the Floki ETP for quite some time. After months of due diligence and hard work, we have heard that Floki ETP is scheduled to launch in early Q1 2025. This proposal would allow the Floki DAO (Decentralized Autonomous Organization) to accept liquidity for Floki ETPs! ”
ETPs allow investors to gain exposure to a specific asset without having to actually purchase the asset.
In the proposal, the Floki team stated that the ETP is already at an advanced stage and will be available for trading on the SIX Swiss Exchange, Switzerland’s largest stock exchange, as early as next year, making it the second meme coin in the world to go live. ETP.
“Once the Floki ETP is activated, institutional investors, regulated companies and retail investors will have exposure to FLOKI in a regulated manner.
Dogecoin is currently the only memecoin in the world with a live ETP, and Floki could be the next memecoin with an ETP besides Dogecoin, so this is an almost unprecedented big move in this space.”
The proposal also includes provisions for burning FLOKI tokens and providing liquidity to the ETP.
“The purpose of this DAO proposal is to seek approval from the Floki DAO to provide liquidity to ETPs…
We currently hold 16,310,285,772.6 FLOKI tokens in our (crypto wallet) and propose to use some of them to provide liquidity to the ETP and burn the rest on the day of the ETP launch.”
FLOKI is trading at $0.000177 at the time of writing, a small increase over the last 24 hours.
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