The development team behind the Floki meme coin has announced exciting plans for the introduction of a new Exchange Traded Product (ETP). Collaborating with a trusted asset manager, the team aims to create a FLOKI-based ETP specifically designed for European market participants, with a targeted launch in the first quarter of the upcoming year.
What is the FLOKI Coin ETP?
In a recent post on the social media platform X, the Floki project team highlighted their months of extensive research and meticulous preparation. They anticipate that the FLOKI ETP will be operational by early 2025, marking a significant development in the project’s trajectory.
How Will Liquidity Be Managed?
To support the ETP’s launch, the FLOKI team plans not only to facilitate liquidity but also to execute a token burn. They propose using part of the existing FLOKI supply, totaling over 16 billion tokens, for liquidity while burning the remainder on the ETP’s launch day. This strategy is described as a rare and significant move in the cryptocurrency landscape.
- The FLOKI ETP will be listed on the SIX Swiss Exchange, enhancing access for both institutional and retail investors.
- It aims to introduce FLOKI into the regulated financial space, following in the footsteps of Dogecoin‘s successful ETP.
- The project is focused on the effective management of liquidity and token burning to ensure the ETP’s success.
The anticipated launch of the FLOKI ETP is expected to open new avenues for investors and foster greater acceptance of meme-based cryptocurrencies. Furthermore, it may help establish memecoins as legitimate financial products, potentially altering market dynamics.