Floki Inu (FLOKI), one of the most popular memecoins, is preparing to offer a new product to its investors.
FLOKI announced in its official statement that they will launch the Floki ETP product in Europe.
Stating that the new Floki ETP could be launched in the first quarter of 2025, the developers propose to allocate part of the FLOKI required for the ETP from the treasury wallet, which contains 16 billion tokens.
If the proposal is approved, FLOKI tokens will provide liquidity to the ETP and can be withdrawn if there is sufficient third-party liquidity in the ETP.
The developers added that they have partnered with an undisclosed asset manager to develop an exchange-traded product (ETP) tracking the FLOKI token.
Lead developer B said in a statement:
“We have been actively working with a reputable Asset Manager and an ETP Publisher to launch a Floki ETP for some time now.
After months of meticulous review and hard work, the Floki ETP is set to launch in early Q1 2025.
Floki ETP will be traded on the SIX Swiss Exchange, the largest stock exchange in Switzerland and the third largest in Europe.
Once underway, the Floki ETP will allow institutional investors, regulated entities and retail investors to gain regulated exposure to FLOKI.”
B added that the team cannot disclose further details about the ETP due to confidentiality agreements, such as opening prices, fund structure, and institutional partners.
If the Floki ETP is approved, FLOKI will become the second memecoin to launch with an institutional product in Europe, after Dogecoin (DOGE).
https://twitter.com/RealFlokiInu/status/1871873768068399424
*This is not investment advice.
