Following the Dogecoin benchmark, the Floki exchange-traded product (ETP) is scheduled to be released in early 2025. This occurred subsequent to the crypto project’s decentralized autonomous organization (DAO)’s resounding approval of the allocation of liquidity for the establishment of a Floki ETP, with 99.9% of the vote cast in favor.
The proposal was passed on December 27 with 332.7 billion votes in favor. Notably, there were no opposing votes. The crypto coin’s ETP is scheduled to go live on the SIX Swiss Exchange in the first quarter of 2025. SIX is Switzerland’s largest stock market and the third-largest in Europe.
A core advisor at Floki said, “With the Floki DAO voting overwhelmingly in favor of the proposal to provide liquidity for the Floki ETP, Floki is on track to become the only memecoin besides Dogecoin with an ETP on a regulated stock exchange as early as January 2025.”
Introducing the Floki initiative
The proposal, which was submitted on December 25, sought approval to use a portion of the 16.3 billion of its tokens from the community redemption wallet. This is to provide liquidity for the ETP.
At present prices, the tokens are valued at approximately $2.8 million. A portion of the tokens will be used to support the ETP. However, the remaining balance will be destroyed in order to decrease the supply.
The U.S. Commodity Futures Trading Commission (CFTC) recently recognized Floki as a utility token. This was during the Global Markets Advisory Committee (GMAC) meeting on Nov. 21. Reports say that this is what led to the launch of the crypto project’s ETP.
Also, the crypto project’s forthcoming NFT -based metaverse game, Valhalla, which is anticipated to be released in early 2025, was a significant factor in the CFTC’s decision. FLOKI will serve as the principal in-game currency in Valhalla.
2025 is looking up for Floki . Javon Marks, a crypto analyst, expressed optimism regarding the crypto coin. He asserted that the memecoin has verified bull signals just below the critical $0.0002761498 target level.
The analyst noted that this development could potentially lead to a rally of over 50% for the crypto. This could potentially pave the way for another rally to $0.0005467298.
However, according to on-chain data, the crypto coin is the seventh-largest memecoin by market valuation. Its current value stands at $1.73 billion. At the time of publication, the coin was trading at $0.00017, a 400% increase from the beginning of 2024, despite recent downward trends.
What is anticipated from ETP set in Switzerland?
The ETP is expected to bring more stability to the asset and, in return, build more confidence in investors.
In addition, the product is expected to be available to European investors at the beginning of the new year. There will be exposure to Floki without the complexities associated with direct ownership. B said, “When it goes live, the Floki ETP will allow institutional investors, regulated entities, and retail investors to get exposure to FLOKI in a regulated way.”
In addition, the ETP will also grant investors smoother access to the popular meme coin, exposing them to its market performance without the risk or intricacies of direct crypto ownership. Other than Trump’s new administration push with the introduction of the coins’ ETP, which could serve as another significant bullish catalyst, the crypto coin’s price could see a massive rally.
There is also an anticipation of a similar trend to that of Dogecoin after their ETP. Valour, the subsidiary of DeFi Technologies, launched the first Dogecoin ETP on Sweden’s Spotlight Stock Market, which caused a bully rally following the launch.
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