Floki, the dog-themed meme cryptocurrency, is planning a big move into the European market. The team behind Floki announced they’re launching an exchange-traded product (ETP) early next year, specifically in the first quarter of 2025.
A Big Step for Floki
This ETP will let investors get exposure to Floki without actually buying the cryptocurrency itself. The team says they’ve been working with a reputable asset manager and ETP issuer to make this happen. Once launched on the SIX Swiss Exchange, it will only be the second memecoin with an ETP, following Dogecoin.
How it Works
The Floki team is proposing to use some of its own FLOKI tokens to provide liquidity for the new ETP. They’ll also burn (destroy) a portion of their tokens at the same time. This means fewer FLOKI tokens will be in circulation.
What’s in it for Investors?
The ETP will make it easier for institutional investors, regulated entities, and regular investors to access Floki in a regulated environment. This is a significant step for the memecoin, making it more accessible to a wider range of investors.
The Future of Floki
Floki is currently trading at a low price ($0.000177 at the time of writing). The launch of the ETP could significantly impact its value, but as always, investors should proceed with caution. This is a high-risk investment.
Disclaimer: Investing in cryptocurrencies is risky. Do your own research before investing any money. This information is not financial advice.
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