Floki DAO — the organization that manages the memecoin Floki — has proposed allocating a portion of its treasury to an asset manager in a bid to launch an exchange-traded product (ETP) in Europe, allowing institutional investors to gain exposure to the memecoin.
Floki DAO — the organization that manages the memecoin Floki — has proposed allocating a portion of its treasury to an asset manager in a bid to launch an exchange-traded product in Europe , allowing institutional investors to gain exposure to the memecoin. In a proposal submitted on Dec. 25, members of Floki DAO are currently voting on whether they should allocate liquidity for the ETP.
— valued at $2.8 million at current prices — as liquidity for the future fund. At the time of publication, 140 votes have been cast in favor of the proposal, with 0 voting against it. The voting period will end at 11:00 UTC on Dec. 27. Floki is on track to launch an ETP in Europe by 2025. Source: Floki DAO The Floki team said they have been working with an undisclosed asset manager to launch an ETP for the memecoin in Europe.
is currently changing hands for $0.00017, and despite trading downwards in recent conditions — the memecoin has posted a 400% gain since the beginning of the year. is down 6.2% in the last week. Source: TradingView If the proposal is approved, Floki will join Dogecoin as the second memecoin to have an exchange-traded product, allowing institutional investors to gain exposure to memecoins. Toronto-based crypto fund issuer Valour launched the first ETP for Dogecoin on Nov. 26.
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