The post FLOKI DAO Approves Liquidity Funding for Its ETP in the European Market appeared on BitcoinEthereumNews.com.

Floki (FLOKI) DAO members unanimously voted to use a portion of the funds from a community buyback wallet, totaling 16.3 billion tokens, as liquidity for the upcoming Floki exchange-traded product (ETP) in the EU. The launch is scheduled for the first quarter of 2025. The Floki ETP will provide investors within the European traditional finance market with exposure to the meme coin. For the first time ever, the Floki DAO proposal was passed without a single opposing vote. Now, Floki’s ETP is poised to become the second meme coin to launch on a regulated stock exchange. The only other meme coin to do so was the Dogecoin ETP. Once launched, Floki will be available to trade on Switzerland’s SIX Swiss Exchange, Europe’s third-largest stock exchange. According to CoinGecko data, the meme coin is currently ranked as the 8th largest meme coin by market cap. A Floki spokesperson stated that the ETP listing would enhance the legitimacy of the community-driven meme coin. “Floki continues to innovate and work hard towards pushing adoption of its ecosystem in line with its mission to be the world’s most known and most used cryptocurrency,” said FLOKI DAO in a recent X post. By launching the ETP, Floki is aiming to achieve wider adoption of its meme coin across the institutional retail market in Europe. A Series of Milestones An ETP, similar to an ETF but with a distinct structure, allows investors to trade assets on stock exchanges. The Floki ETP bridges the gap between traditional finance (TradFi) and cryptocurrency by enabling access to its meme coin on regulated stock exchanges. This allows both institutional and retail investors to easily buy and hold Floki in a transparent and regulated manner. The approval of liquidity funding for its ETP marks just one of several of Floki’s recent successes.…

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Filed under: News - @ January 2, 2025 12:37 am