cryptodnes.bg
The team behind Floki (FLOKI), a cryptocurrency inspired by internet memes, has unveiled plans for a groundbreaking financial product.
The developers are collaborating with a notable asset manager to launch a Floki-based exchange-traded product (ETP) aimed at European investors, expected to debut in early 2025.
The team highlighted that the initiative has been months in the making, with rigorous due diligence paving the way for the launch. The proposed ETP will allow investors to gain exposure to FLOKI without directly owning the token. The Floki team is seeking approval from its decentralized autonomous organization (DAO) to allocate liquidity for the product.
The upcoming ETP is set to trade on the SIX Swiss Exchange, Switzerland’s premier stock exchange, marking a significant step for the meme coin market. If successful, Floki will join Dogecoin as one of the few meme-based assets with an ETP.
“This initiative will enable institutional and retail investors to access FLOKI in a regulated manner, potentially broadening its reach,” the team noted.
The proposal also includes a token burn mechanism to reduce supply and enhance scarcity, with a portion of existing FLOKI tokens allocated to support the ETP’s liquidity. The remainder will be burned upon the ETP’s launch, a move designed to increase long-term value.