Floki looking to launch Floki ETP in early 2025

Key Takeaways

Floki plans to launch an ETP on SIX Swiss Exchange in early 2025.
A community vote strongly supports the allocation of 16 billion FLOKI for ETP liquidity.

Floki plans to launch an exchange-traded product (ETP) based on its FLOKI token on SIX Swiss Exchange in Switzerland in early 2025. If approved, this development will make FLOKI the second memecoin to become an institutional-grade investment vehicle offered in Europe, following Dogecoin.

According to a statement on December 25, the project is working with a fund manager and ETP publisher to create a regulated investment product that will be accessible to institutional and retail investors.

The Floki DAO also has a praise to allocate 16 billion FLOKI tokens, worth approximately $2.8 million, from its treasury to provide liquidity to the ETP.

At the time of reporting, the proposal received strong support, with 204.9 billion votes cast against it and no votes against or abstentions. This unanimous approval demonstrates the strong community support for the Floki ETP initiative. Voting ends on December 27.

The ETP allows investors to experience FLOKI through regulated channels, connecting traditional finance with digital assets.

While specific details of the structure and pricing of the product remain undisclosed due to confidentiality agreements, the project maintains that the tokens used for liquidity will remain owned by Floki and can be taken away once sufficient third party liquidity is established.

SIX Swiss Exchange, where the ETP will be listed, is the largest stock exchange in Switzerland and ranks third in Europe by volume.

The news comes after Floki launched a new debit card in partnership with Mastercard earlier this month. The card, which is available in both physical and virtual formats across 31 European countries, supports several crypto assets, including FLOKI, BTC, and USDT.

Beyond Bitcoin and Ethereum, investment products now offer exposure to a wider range of crypto assets, including increasingly popular options such as Solana and Ripple.

Last month, Valour, a subsidiary of DeFi Technologies, officially launched the the first Dogecoin ETP on Sweden's Stock Market Spotlight. The product enables retail and institutional investors in the Nordic region to experience DOGE, the seventh largest crypto asset without the complexities associated with direct ownership.