FLOKI Receives DAO Approval to Launch Regulated Exchange-Traded Product
FLOKI is set to become the second memecoin to launch a regulated Exchange-Traded Product (ETP) after Dogecoin, following a decisive vote by the Floki DAO. The proposal received 332.7 billion tokens (99.9%) in favor, with 328.9 million abstaining and no opposition, marking the first time a Floki DAO proposal passed without dissent.
The proposal will allocate 16,310,285,772.6 FLOKI tokens from a community buyback wallet for ETP liquidity, with the remainder to be burned, as stated in the official announcement.
FLOKI Aims To Mirror Dogecoin
The Floki ETP is scheduled to launch in early Q1 2025 in partnership with a respected asset manager and ETP issuer. It will be listed on the SIX Swiss Exchange, one of Europe's largest stock exchanges, enhancing FLOKI’s visibility in traditional finance.
Currently, Dogecoin is the only memecoin with an active ETP, traded on Sweden’s Spotlight Stock Market. FLOKI's listing on Switzerland’s exchange may attract more institutional and retail investors interested in regulated crypto access.
The Floki ETP will provide institutional investors, regulated entities, and retail investors exposure to FLOKI in a regulated manner. This development is significant as Dogecoin is presently the only memecoin globally with a live ETP, positioning FLOKI to follow suit.
Details about the allocation of tokens for liquidity remain confidential due to nondisclosure agreements, but any allocated tokens will remain under Floki's ownership, allowing for withdrawal if sufficient third-party liquidity develops in the ETP.
This announcement follows a recent Commodity Futures Trading Commission meeting where FLOKI was presented as a “case study of a utility token.” Regulatory attention can enhance a token's credibility amid a compliance-focused market.
The DAO-centric model remains a key aspect of FLOKI's strategy, with community votes and proposals influencing the project’s trajectory. Members consistently support initiatives aimed at increasing recognition of the memecoin, which seeks to become the most known and used cryptocurrency.
Reactions from the crypto community have been positive. Analyst Shelby noted via X that this milestone indicates institutional adoption while maintaining decentralized roots, highlighting FLOKI's role in bridging traditional finance and DeFi.
As of press time, FLOKI was trading at $0.0001798, having reclaimed the 200-day EMA, often seen as a bullish indicator. However, it remains below the critical resistance range of $0.000205 to $0.000215. Surpassing this range could lead to a new rally towards the yearly high of $0.000349 reached in June.
