An exchange-traded product (ETP) tied to the Floki token is expected to launch in Europe in early 2025, a developer working on the project confirmed to CoinDesk. Floki, which started as a meme coin but has transitioned into a more utility-driven project, is collaborating with an undisclosed asset manager to develop the ETP. The product, which will track the value of the FLOKI token, could become available to European investors by the start of next year.
If it receives regulatory approval, the Floki ETP will join dogecoin (DOGE) as one of the only meme tokens to be featured in an institutional product in Europe. Developer B shared with CoinDesk in a Telegram message on Wednesday, “After extensive due diligence and preparation, we’ve been informed that the Floki ETP is on track for a launch in Q1, 2025.”
The Floki team is also seeking approval from the Floki DAO community to provide early liquidity for the product at the time of launch. A 48-hour vote is currently underway and will conclude at 11:00 UTC on December 27, 2024.
As part of the proposal, the team plans to use some of the 16 billion FLOKI tokens held in the Floki treasury wallet—currently valued at around $2.8 million—to support the ETP’s liquidity. These tokens were purchased over three years, following the approval of a prior community vote. If the proposal passes, the FLOKI tokens will be allocated for liquidity while still remaining under Floki’s ownership, with the option to withdraw them if enough third-party liquidity is added to the product.
“The Floki ETP is nearing completion and will be available for trading on the SIX Swiss Exchange, which is the largest exchange in Switzerland and the third-largest in Europe,” said developer B. “When launched, it will provide institutional, regulated, and retail investors with a compliant way to gain exposure to FLOKI.”
Additional specifics about the ETP—such as its opening price, fund structure, and institutional partnerships—are currently under wraps due to non-disclosure agreements.
FLOKI has seen a modest 1.1% gain in the past 24 hours, reflecting broader trends in the cryptocurrency market.
