The Floki Decentralized Autonomous Organization (DAO) has approved a proposal stating that a percentage of the Floki supply should be allocated as liquidity funding for a Floki exchange-traded product. The decentralized autonomous organization, which supports the development of the FLOKI-0.63% FLOKI project, unanimously passed the proposal. This means that part of the 16.3 billion FLOKI tokens in the community buyback wallet will help fund the soon-to-be-launched Floki ETP. Meanwhile, the project will permanently burn the rest of the tokens.
Floki to Launch ETP on SIX Exchange in 2025
Floki has a strong chance to become in light of this new information. It is the only meme coin besides Dogecoin offering an ETP via a regulated stock exchange. The Floki ETP will launch on the SIX Swiss Exchange in Q1 2025. Floki aims to drive further adoption of its meme coin across the traditional finance market with this product. The ETP will help bridge the gap between TradFi and crypto.
Floki ETP Launches on SIX Swiss Exchange
A live launch of the Floki ETP is scheduled to take place on the SIX Swiss Exchange. An almost extraordinary step toward establishing the legality of memecoin was taken by the largest stock exchange in Switzerland, which is also the third largest in Europe.
Floki recently scored major recognition after the U.S. Commodity Futures Trading Commission highlighted it as a utility token alongside Ethereum and Avalanche. This happened at the Global Markets Advisory Committee meeting in November, with Floki’s upcoming game Valhalla key to this development.
The Floki ETP is one of the many milestones for the Crypto project. The University of Floki, set up in the same month, was recently shown to the public through the initiative. The team launched their Floki Debit Card across 31 European countries.
SEC Approves Bitcoin Ethereum ETFs
The United States Securities and Exchange Commission approved establishing exchange-traded funds (ETFs) for Bitcoin and Ethereum in 2024. Since then, issuers have submitted applications for Solana, XRP, and Litecoin ETFs, amongst others. The surge in the value of meme currencies, artificial intelligence, and real-world assets, as well as the rise of Bitcoin to a new all-time high, were other notable highlights.
FAQs
How is Floki funding its ETP?
Floki's decentralized autonomous organization (DAO) approved a proposal to allocate a percentage of the FLOKI token supply as liquidity funding for the upcoming ETP.
What makes the Floki ETP significant?
The Floki ETP will be one of the first meme coins, besides Dogecoin, to be listed on a regulated stock exchange, providing further legitimacy to the Floki project.
What other initiatives has Floki launched?
Floki has recently introduced the University of Floki, a Floki Debit Card across 31 European countries, and gained recognition as a utility token by the U.S. Commodity Futures Trading Commission.
What is the current trend in the crypto ETF market?
In 2024, the SEC approved Bitcoin and Ethereum spot ETFs, and other crypto assets like Solana, XRP, and Litecoin are also seeking ETF approval.
