Close up on logo of Floki Inu on the screen of an exchange. Source: maurice norbert - stock.adobe.com

Key Takeaways:

Floki ETP Proposal: Floki DAO proposes allocating $2.8M in FLOKI tokens to support a European exchange-traded product (ETP) debuting on the SIX Swiss Exchange in Q1 2025.
Institutional Collaboration: Floki DAO collaborates with an unnamed asset manager to bring institutional-grade exposure to memecoins.
Market Impact: While FLOKI’s price is down 6.2% this week, its 400% YTD performance underscores the memecoin’s growth amid rising institutional interest.

Floki DAO, the decentralized organization behind the Floki memecoin, has proposed allocating 16 billion FLOKI tokens (approximately $2.8 million) from its treasury to support the creation of a European exchange-traded product (ETP).

If approved, Floki would become the second memecoin, after Dogecoin, to achieve this milestone.

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

The proposal, submitted on December 25, has received unanimous support so far, with voting set to close on December 27.

The initiative aims to enhance institutional access to Floki through a partnership with an undisclosed asset management firm.

The ETP, currently in advanced development stages, is expected to debut in early Q1 2025 on the SIX Swiss Exchange, the largest stock exchange in Switzerland.

While specific details are restricted by non-disclosure agreements, the Floki team has assured the community that the initiative aligns with their broader mission.

Ranking as the seventh-largest memecoin with a $1.7 billion market cap, Floki’s initiative underscores growing institutional interest in memecoins, potentially paving the way for increased investor exposure to this niche asset class.