The Floki DAO has unanimously approved a proposal to allocate part of the 16.3 billion Floki tokens from its community buyback wallet as liquidity for a Floki exchange-traded product.
The Floki DAO has unanimously approved a proposal to allocate part of the 16.3 billion Floki tokens from its community buyback wallet as liquidity for a Floki exchange-traded product (ETP) launch. Scheduled to debut in the first quarter of 2025, the ETP will be listed on the SIX Swiss Exchange, Switzerland’s largest and Europe’s third-largest stock market. A Floki representative described this move as a significant milestone for the token, aiming to establish it as a legitimate option in traditional financial markets.
Floki’s ETP initiative is part of broader efforts to integrate cryptocurrencies into mainstream finance. The project is being developed in partnership with a prominent asset manager and an ETP issuer, designed to provide both institutional and retail investors with regulated access to Floki. Exchange-traded products like this allow exposure to assets without direct ownership, a feature bridging the gap between crypto and traditional trading systems.
This announcement comes after the U.S. Commodity Futures Trading Commission (CFTC) acknowledged Floki as a utility token during a November Global Markets Advisory Committee meeting. Alongside Ethereum and Avalanche, Floki was recognized for its real-world applications, including its role as the in-game currency for Valhalla, an NFT-based metaverse game set to launch in 2025.
The broader meme coin market saw extraordinary growth in 2024. Meme coins captured significant interest, surpassing Bitcoin in Google searches in October. Meme coins scored 77 out of 100 in search interest, compared to Bitcoin’s 33. This rising popularity was bolstered by platforms like Pump.fun, a Solana-based meme coin launchpad that generated $365 million in revenue by November and became the first Solana application to surpass $100 million in monthly revenue.
However, the meme coin boom has not been without controversy. Critics argue that the sector often prioritizes speculative trading over blockchain utility. This divide highlights the challenges of balancing market trends with meaningful applications in cryptocurrency.
Despite the positive momentum surrounding the ETP initiative, Floki’s price declined by 3.6% over the last 24 hours, according to CoinMarketCap. Nonetheless, the Floki DAO remains optimistic, emphasizing the ETP’s potential to position the token as one of the few meme coins, alongside Dogecoin, to secure a spot on a regulated stock exchange.
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