Floki DAO has taken a decisive step by voting unanimously to allocate 16.3 billion FLOKI tokens from its buyback wallet as liquidity for the forthcoming Floki exchange-traded product (ETP) in the EU, set to launch in early 2025. This ETP will allow European investors to gain exposure to the meme coin in the traditional finance market.
Historically, this initiative marks Floki as the second meme coin to be listed on a regulated exchange, following Dogecoin. The ETP will trade on Switzerland's SIX Swiss Exchange, reflecting significant legitimacy gains for Floki within the community.
A spokesperson highlighted that launching the ETP aligns with Floki's mission to become a globally recognized cryptocurrency. The ETP aims to broaden the coin's adoption in the European institutional and retail markets, interfacing traditional finance with cryptocurrency via trading on established platforms.
Floki has recently achieved several milestones: the CFTC in the US cited Floki as a utility token, a new Visa/Mastercard-compatible debit card was announced, and the launch of an educational initiative, the 'University of Floki', was declared. These developments underscore Floki's commitment to establishing an expansive ecosystem around its meme coin.
Earlier, Floki DAO invested $200,000 in CAT, a meme coin inspired by "Simon's Cat," contributing to a considerable rally in its value. The broader meme coin market thrived in 2024, reaching a $112 billion market cap, and Floki saw a 375% increase. To build on this success, Floki is progressing with its ETP plans.
