The developers of the meme coin Floki Inu are preparing to launch an ETP for European investors in the first quarter of 2025. The team disclosed this to CoinDesk on December 25.
“We have been working with a respected asset manager and ETP issuer on launching the Floki ETP for quite some time, and after months of due diligence and painstaking effort, we have been informed that [the product] will launch at the beginning of the first quarter of 2025,” stated the project’s lead developer, B.
The corresponding proposal has been put to a vote among DAO participants.
NEW DAO PROPOSAL: APPROVE LIQUIDITY PROVISIONING FOR A FLOKI ETP
We’ve been actively working with a respected Asset Manager and an ETP Issuer to launch a Floki ETP (Exchange-Traded Product) for quite a while now. After months of due diligence and painstaking effort, we’ve been… pic.twitter.com/90ckRJsUN2
— FLOKI (@RealFlokiInu) December 25, 2024
If approved, the product will launch on Switzerland’s largest exchange, SIX Swiss Exchange.
The team is considering allocating 16 billion FLOKI (approximately $2.8 million) from the project’s treasury for the instrument’s liquidity. These assets were purchased on the open market over the past three years.
The tokens will provide liquidity for the exchange-traded product and will remain the property of the project. Later, if external funds are sufficient, the FLOKI tokens will be returned to the treasury.
The developers stated that they cannot yet disclose information about the fund’s structure, initial prices, and institutional partners.
The Floki Inu project emerged in 2021 with the launch of the FLOKI meme coin, dedicated to Elon Musk’s dog named Floki.
At the time of writing, FLOKI is trading at $0.000179. The price has not yet reacted to the news. The token’s market capitalization stands at $1.73 billion.
Earlier in December, the Floki Inu team supported the BAD AI agents project based on the BNB Chain.