an image of the floki coin virtual currency on a digital background. 3d illustrations.

Key Takeaways:

The Floki DAO approved funding for a Floki exchange-traded product (ETP) using its community buyback wallet, with plans to launch in Q1 2025.
The ETP will debut on the SIX Swiss Exchange, aiming to enhance Floki’s legitimacy in traditional financial markets.
Despite this milestone, Floki’s price dropped 3.6% over the past 24 hours, reflecting broader market trends.

The Floki DAO, overseeing the Floki memecoin, has unanimously approved using part of its 16.3 billion Floki tokens as liquidity for a new exchange-traded product (ETP).

Scheduled to launch in Q1 2025, the Floki ETP will provide European investors access to the 66th-largest cryptocurrency by market capitalization, according to CoinMarketCap.

FLOKI DAO UNANIMOUSLY GREENLIGHTS ETP PROPOSAL

Floki’s DAO voted to launch an exchange-traded product (ETP) in Europe, giving traditional investors a taste of memecoin madness.

It’s debuting on the SIX Swiss Exchange, but Floki’s price dipped 3.6%—even memes can’t dodge market… pic.twitter.com/5jOE4kZEOu
— Mario Nawfal’s Roundtable (@RoundtableSpace) January 1, 2025

The product will debut on the SIX Swiss Exchange, Switzerland’s largest and Europe’s third-largest stock exchange.

A Floki representative emphasized this move as a breakthrough for memecoin legitimacy in traditional finance.

Despite the milestone, Floki’s price dropped 3.6% over 24 hours, reflecting broader market volatility.

Memecoins, including Floki, saw massive gains in 2024, with CoinGecko reporting an average return of 2,185% for the sector, second only to AI-related crypto projects, which delivered 2,939%.

The ETP is expected to enhance Floki’s presence in mainstream financial markets, further solidifying its standing despite the recent dip in value.

This initiative underlines growing institutional interest in the memecoin space.