FLOKI DAO approves liquidity funding for Floki ETP

The Floki DAO has approved a proposal to allocate a portion of Floki’s supply as liquidity funding for a Floki exchange-traded product.

The decentralized autonomous organization, which supports the development of FLOKI (FLOCS) project, adopted unanimously the proposal. This means that a portion of the 16.3 billion FLOKI tokens in the community buyback wallet will help fund the soon-to-launch Floki ETP. During this time, the project will permanently burn the rest of the tokens.

With this development, Floki is set to become the only other coin besides Dogecoin (DOGE) which offers an ETP via a regulated exchange. Indeed, the Floki ETP is expected to be launched on the SIX Swiss Exchange in the first quarter of 2025.

Floki aims to drive the adoption of its meme coin in the traditional financial market with this product. The ETP will help bridge the gap between TradFi and crypto.

In a comment, the project advisor said:

“The Floki ETP will go live on the SIX Swiss Exchange, which is the largest exchange in Switzerland and the third largest exchange in Europe, which is an almost unprecedented move for the legitimacy of memecoin.”

Floki recently gained major recognition after the United States Commodity Futures Trading Commission highlighted it as a utility token alongside Ethereum and Avalanche. This happened at the Global Markets Advisory Board meeting in November, with Floki’s upcoming game Valhalla being key to this development.

The Floki ETP is one of the crypto project’s many milestones. Recently, the project unveiled the Floki University coming the same month the team launched its Floki debit card in 31 European countries.

Meanwhile, the broader market for crypto investment products continues to attract investors.

In 2024, the U.S. Securities and Exchange Commission approved Bitcoin and Ethereum spot ETFs and issuers filed applications for Solana, XRP, and Litecoin ETFs, among others. BTC’s run to a new all-time high and the explosion of coins, AI, and real-world assets were also highlights.