Dogecoin

FLOKI

Floki DAO

Floki DAO — the organization that manages the memecoin Floki — has proposed allocating a portion of its treasury to an asset manager in a bid to launch an exchange-traded product (ETP) in Europe, allowing institutional investors to gain exposure to the memecoin.&nbsp;
In a <a data-ct-non-breakable="null" href="https://snapshot.box/#/s:floki-inu.eth/proposal/0x50aa497ab85e56c5ec16cff70acd4e5146b333db06e5528496c931db4c62cbe6" rel="null" target="null" text="null" title="null">proposal</a> submitted on Dec. 25, members of Floki DAO are currently voting on whether they should allocate liquidity for the ETP. The proposal requests using a portion of the 16 billion FLOKI — valued at $2.8 million at current prices — as liquidity for the future fund.&nbsp;
As of the time of publication, 140 votes had been cast in favor of the proposal, with none opposing it. The voting period is scheduled to conclude on Dec. 27.
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 <img alt="Memecoin, Floki Inu, ETF" src="https://s3.cointelegraph.com/uploads/2024-12/01940094-ff0f-736a-9735-d167beec8c78" title="">
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 Floki is on track to launch an ETP in Europe by 2025. Source: Floki DAO
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The Floki team said they have been working with an unidentified <a data-ct-non-breakable="null" href="https://cointelegraph.com/learn/articles/crypto-asset-segregation-how-crypto-asset-management-works" rel="null" target="null" text="null" title="null">asset manager</a> to launch the ETP in Europe.&nbsp;
We’ve been told that the Floki ETP is on track to go live in early Q1, 2025,” said the <a data-ct-non-breakable="null" href="https://snapshot.box/#/s:floki-inu.eth/profile/0x7275052f1ae220b3d8e97c724920e7ffc02C4C88" rel="null" target="null" text="null" title="null">holder</a> who put forward the proposal.&nbsp;
“The Floki ETP is currently in an advanced stage and will become tradable on the SIX Swiss Exchange, the largest stock exchange in Switzerland and the third-largest in Europe,” they added.&nbsp;
The team couldn’t reveal further specifics of the ETP due to non-disclosure agreements but said if the proposal passes, it will be “executed in line with the Floki DAO’s mandate.”
The price of Floki (<a data-ct-non-breakable="null" href="/floki-price-index" rel="null" target="null" text="null" title="null">FLOKI</a>) barely budged on the proposal and has traded down 6.2% in the last week, according to TradingView <a data-ct-non-breakable="null" href="https://www.tradingview.com/chart/?symbol=BINANCE%3AFLOKIUSDT" rel="null" target="null" text="null" title="null">data</a>.&nbsp;
Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/memecoin-supercycle-analysts-investment" rel="null" target="null" text="null" title="null">Is the ‘'memecoin supercycle” over already? Analysts weigh in</a>
Floki is the seventh largest memecoin by total value, commanding a total market cap of $1.7 billion at the time of publication, per CoinGecko <a data-ct-non-breakable="null" href="https://www.coingecko.com/en/coins/floki" rel="null" target="null" text="null" title="null">data</a>.&nbsp;
FLOKI is currently changing hands for $0.00017, and despite recently trading downward, the memecoin has posted a 400% gain since the beginning of the year.&nbsp;
<figure>
 <img alt="Memecoin, Floki Inu, ETF" src="https://s3.cointelegraph.com/uploads/2024-12/01940095-bfcd-763b-8597-78f5653cc7e8" title="">
 <figcaption style="text-align: center;">
 FLOKI is down 6.2% in the last week. Source: TradingView
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If the proposal is approved, Floki will join <a data-ct-non-breakable="null" href="https://cointelegraph.com/learn/articles/what-is-dogecoin-a-beginners-guide-to-doge-cryptocurrency" rel="null" target="null" text="null" title="null">Dogecoin</a> (<a data-ct-non-breakable="null" href="/doge-price-index" rel="null" target="null" text="null" title="null">DOGE</a>) as the second <a data-ct-non-breakable="null" href="https://cointelegraph.com/learn/articles/how-to-make-a-profit-from-solana-memecoins" rel="null" target="null" text="null" title="null">memecoin</a> to have an exchange-traded product, allowing institutional investors to gain exposure to memecoins.
Toronto-based crypto fund issuer Valour <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/valour-launches-doge-etp" rel="null" target="null" text="null" title="null">launched the first ETP for Dogecoin</a> on Nov. 26.&nbsp;
Magazine: <a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/5-real-use-cases-for-useless-memecoins/" rel="null" target="null" text="null" title="null">5 real use cases for useless memecoins</a>

Floki DAO floats liquidity provisioning for a Floki ETP in Europe

Cointelegraph

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