DAO Floki, a decentralized autonomous organization managing the Floki coin (FLOKI), proposed allocating part of its treasury to an asset management company to launch an Exchange-Traded Product (ETP) for this cryptocurrency in Europe. This product will provide institutional investors with access to the Floki coin. As of the proposal presented on December 25, members of DAO Floki are currently voting on whether to allocate the necessary liquidity for the mentioned ETP. This proposal suggests using a portion of 16 billion FLOKI units as liquidity for the future fund. As of writing, 140 votes have been cast in favor of this proposal with no negative votes recorded. The voting will continue until 11:00 UTC on December 27. Reports indicate that if approved, Floki ETP will be launched in the first quarter of 2025 and traded on the SIX Swiss Exchange, the largest exchange in Switzerland and the third-largest in Europe. Due to non-disclosure agreements, the Floki team refrains from sharing further details. It is worth mentioning that if this proposal is approved, Floki will become the second meme coin after DOGE to have a tradable product on the exchange. As previously reported, DOGE ETP was introduced by Valour, a subsidiary of DeFi Technologies, in response to the increased demand for this meme coin on November 26.
