Floki Prepares for European ETP Launch in Early 2025
Floki, the meme-inspired project turned utility token, is gearing up to debut an exchange-traded product (ETP) in Europe by early 2025, according to a project developer who spoke with CoinDesk.
In collaboration with an unnamed asset manager, Floki is developing an ETP that will track its native token, FLOKI, providing European investors regulated exposure to the cryptocurrency. If approved, FLOKI would join Dogecoin (DOGE) as one of the only meme tokens with an institutional product in Europe.
“We’ve been actively working with a respected Asset Manager and an ETP Issuer to launch a Floki ETP for quite a while now. After months of due diligence and painstaking effort, we’ve been told that the Floki ETP is on track to go live in early Q1, 2025,” said lead developer B in a Telegram message to CoinDesk.
To support the ETP’s launch, the Floki team is seeking approval from the Floki DAO to provide early liquidity. A community vote is underway and will conclude at 11:00 UTC on Dec. 27, running for 48 hours.
The proposal requests allocating a portion of FLOKI tokens from the project’s treasury wallet, which holds 16 billion tokens valued at approximately $2.8 million at current prices. These tokens were accumulated from open-market purchases following a previous DAO vote. If approved, the tokens would act as liquidity for the ETP while remaining under Floki’s ownership and could be withdrawn once sufficient third-party liquidity is established.
“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,” B explained. “When it goes live, the Floki ETP will allow institutional investors, regulated entities, and retail investors to gain exposure to FLOKI in a regulated manner.”
Further details about the ETP, including pricing, fund structure, and institutional partners, remain under wraps due to non-disclosure agreements.
At the time of writing, FLOKI is up 1.1% in the past 24 hours, mirroring the broader upward trend in the crypto market.
