Floki, a meme-inspired cryptocurrency project, is making strides to launch its FLOKI token as an exchange-traded product (ETP). Partnering with a yet-to-be-named asset manager, the team aims to roll out the ETP in European markets by early 2024.
What Steps Are Being Taken for Approval?
Securing approval from the Floki DAO community is a pivotal step for the developers as they introduce this new investment vehicle. To ensure initial liquidity, a proposal for the allocation of FLOKI tokens has been put forward. Voting is scheduled to span 48 hours, concluding on December 27 at 11:00 UTC. Should the community support the initiative, a portion of FLOKI tokens will be designated from the treasury wallet managed by Floki DAO for the ETP.
Where Will the ETP Be Listed?
The developers indicate that the ETP is approaching finalization for trading on the SIX Swiss Exchange, which ranks as Europe’s third-largest exchange. One developer emphasized that the Floki ETP will grant regulated access to FLOKI tokens for a diverse range of investors, including institutional entities.
Key insights include:
- The proposal requires community approval to allocate FLOKI tokens.
- Trading on the SIX Swiss Exchange could enhance token visibility.
- Developers expect increased liquidity and investment potential from institutional players.
The introduction of the Floki ETP marks a significant milestone for the FLOKI token, potentially establishing it as a distinctive investment option in the European market, while also potentially strengthening ties with institutional investors.