Floki DAO’s $2.8 Million Proposal to Bring a Floki ETP

Crypto News Market News

Floki DAO’s $2.8 Million Proposal to Bring a Floki ETP to European Investors

Written by Aaron S.,

Editor-In-Chief

Last Updated: December 27, 2024

Key Takeaways

Floki DAO proposes using $2.8 million in tokens to launch a regulated ETP, offering institutional access to the memecoin in Europe;
Voting on the proposal, which has received strong support so far, will close on December 27 at 11:00 UTC;
If approved, the ETP is set to launch in early 2025, listed on the SIX Swiss Exchange, Switzerland’s largest stock market.

Stop overpaying - start transferring money with Ogvio. Sign up, invite friends & grab Rewards now! 🎁

Floki DAO’s $2.8 Million Proposal to Bring a Floki ETP to European Investors

BITDEGREE IN YOUR SOCIAL FEED

The organization behind the Floki FLOKI $0.0000462 memecoin, Floki Decentralised Autonomous Organisation (DAO), has introduced a proposal to allocate part of its treasury to launch a new financial product in Europe.

This initiative aims to create an exchange-traded product (ETP), allowing institutional investors to access the memecoin in a regulated market.

The proposal has received 146 votes in favor, with no opposition. If approved, the funds would be managed by a third-party asset manager, with the Floki DAO ensuring that the process aligns with its governance policies.

What is AAVE in Crypto? (Beginner-Friendly Explainer)

Did you know?

Want to get smarter & wealthier with crypto?

Subscribe - We publish new crypto explainer videos every week!

Shared with the community on December 25, the proposal suggests using 16 billion FLOKI tokens, worth approximately $2.8 million at current market rates, as liquidity for the planned ETP.

Members of the DAO are voting on whether to approve this allocation. Voting will conclude on December 27 at 11:00 UTC.

According to the Floki team, they have collaborated with a professional asset manager to bring this project to life. A DAO member leading the proposal shared that the ETP is expected to launch in early Q1 2025 and will be listed on the SIX Swiss Exchange, Switzerland’s largest stock market.

As the Floki ETP moves closer to launch, the SEC has granted approval for Franklin Templeton and Hashdex's Bitcoin-Ethereum exchange-traded funds (ETFs). What led to the SEC's decision to approve two ETFs simultaneously? Read the full story.