Meme Coin Floki Is Collaborating With an Undisclosed Asset Manager to Develop an ETP in the EU

If the plan goes forward, FLOKI will become the second meme coin with an institutional-grade investment product in Europe after Dogecoin (DOGE).

Meme coin Floki (FLOKI) is reportedly working with an asset manager to launch an exchange-traded product (ETP) in the European Union.

According to the announcement on Monday, the ETP will be available to European investors in early 2025, subject to approval.

Meme Coin ETPs Gaining Traction

If realized, FLOKI will become the second meme coin to have an institutional-grade investment product in Europe, following Dogecoin (DOGE).

The Floki DAO community is currently voting on whether to allocate early liquidity for the ETP. The proposal suggests using tokens from a treasury wallet that contains 16 billion FLOKI, currently valued at over $2.8 million at market price.

The 48-hour vote is set to conclude at 11:00 UTC on December 27.

“We’ve been working actively 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 told that the Floki ETP is on track to go live in early Q1, 2025,” Floki announced on X (formerly Twitter).

These tokens were acquired through open-market purchases after a previous community vote. If approved by the community, the tokens will be used to provide liquidity while remaining under Floki’s ownership. The tokens can be withdrawn if sufficient third-party liquidity is available.

Meanwhile, the Floki ETP is reportedly in the final stages and is set to be listed on Switzerland’s SIX Swiss Exchange. It is the largest stock exchange in the country and the third-largest in Europe.

Once launched, the ETP will provide institutional investors, regulated entities, and retail investors with access to FLOKI within a regulated framework.

Meme Coins Continue to Flourish

Earlier this year, Floki DAO announced a $200,000 USDT investment in the CAT token, a meme coin inspired by the animated series “Simon's Cat.”

The venture marked Floki's entry into the entertainment-themed meme coin space. Following its launch, the CAT token surged over 250%, reaching a market cap of $275 million. However, it has seen continuous declines in December. Binance also listed the token earlier this month.

Overall, the broader meme coin market has seen substantial growth throughout 2024, reaching a collective market cap of $112 billion. FLOKI itself reached an all-time high in June and has gained around 375% this year.

Floki's planned ETP will capitalize on this growing interest, aiming to bridge the gap between meme coins and institutional adoption in a regulated setting.