The governing body behind the popular memecoin Floki has unveiled plans to launch an Exchange-Traded Product (ETP) in Europe, marking a major milestone for the cryptocurrency sector.
According to the proposal, the ETP would debut in early Q1 2025 on Switzerland's SIX Swiss Exchange, one of Europe's largest trading venues. If approved, Floki would become only the second memecoin after Dogecoin to achieve regulated institutional investment access in Europe.
To provide liquidity for the ETP, Floki DAO plans to allocate tokens from its treasury wallet containing over 16.3 billion FLOKI tokens, valued at approximately $2.8 million at current prices. These tokens were acquired through strategic buybacks conducted three years ago.
The initiative involves collaboration with an undisclosed asset manager and ETP issuer. While specific details remain private due to non-disclosure agreements, the DAO has committed to maintaining transparency once regulatory requirements permit.
The proposal comes amid strong performance for FLOKI in 2024, with the token gaining 375% as the broader memecoin market reaches a collective market capitalization of $112 billion. The ETP launch would provide institutional investors and regulated entities a framework to gain exposure to FLOKI through traditional financial channels.
The 48-hour community vote on the proposal concludes on December 27. If approved, the remaining treasury tokens not used for ETP liquidity will be burned on the launch date. The DAO maintains the option to withdraw the tokens once third-party liquidity becomes sufficient to support the ETP.
This development represents a strategic move to bridge decentralized finance with conventional investment vehicles while potentially reshaping institutional perspectives on memecoins. The choice of Switzerland's globally respected exchange platform positions Floki to expand its presence in regulated markets.