The development team of dog-themed meme coin Floki has announced plans to launch a new exchange-traded product (ETP). The project said it is working closely with a reputable asset manager to create a FLOKI-based ETP for European investors. This product is targeted to be launched in the first quarter of next year.
FLOKI Coin ETP
In the statement made on the social media platform X, the project team emphasized that they have been carrying out extensive research and meticulous work for months. FLOKI ETP is expected to be implemented in early 2025.
“This proposal has been submitted in order to approve Floki DAO to provide liquidity for ETP!”
The FLOKI team announced that in addition to providing liquidity for ETP in the DAO offering, they also plan to burn FLOKI tokens. The project team proposed allocating a portion of the existing 16,310,285,772.6 FLOKI tokens for liquidity, while burning the rest on the day of the ETP launch.
“This is a big step forward and one that is rare to see in the crypto world.”
FLOKI ETP is expected to be traded on the SIX Swiss Exchange, Switzerland’s largest exchange. This step will enable institutional and individual investors to invest in FLOKI in a regulated manner. dogecoin $0.32215Considering ‘s existence as the only memecoin ETP, FLOKI’s entry into this space will be notable.
With the burning to be done on the day of ETP approval, the price may experience an extremely interesting rise. Therefore, if the forecast approval dates are determined, we can see that the expectation is purchased.
Future Steps
The project team continues to work towards the successful listing and entry into force of the ETP. Properly managing liquidity and token burning processes is critical to the success of ETP.
The launch of the FLOKI ETP could contribute to wider acceptance of memecoins while providing new opportunities for investors. FLOKI’s ETP launch could pave the way for memecoins to be included among financial products and create new dynamics in the market.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
