Floki ETP Project Works with an Asset Manager and ETP Issuer to Create a Regulated Investment Product

According to a Dec. 25 statement, the project is working with an asset manager and ETP issuer to create a regulated investment product accessible to both institutional and retail investors.

Floki, the project named after Elon Musk's dog and aiming to create a "decentralized metaverse ecosystem," is launching an exchange-traded product (ETP) for its token, aiming to make it accessible to both institutional and retail investors.

The proposal to launch a Floki ETP on SIX Swiss Exchange has received strong support from the community. At the time of reporting, the proposal garnered 204.9 billion votes in favor, with no votes against or abstaining.

The vote will conclude on Dec. 27.

ETPs are exchange-traded funds that track the price of an underlying asset, such as a cryptocurrency, providing a convenient way for investors to gain exposure to digital assets through traditional financial markets.

Floki is collaborating with an asset manager and ETP issuer to develop the product, selecting an entity with a strong track record in managing digital asset investment products.

The project's tokens used for liquidity will remain under Floki's ownership and can be withdrawn once sufficient third-party liquidity is established, as part of an initiative to bootstrap liquidity for the ETP.

Floki’s ETP will be listed on SIX Swiss Exchange, the largest stock exchange in Switzerland and the third largest in Europe by total market capitalization.

Earlier this month, Floki partnered with Mastercard to launch a new debit card. The card, available in both physical and virtual formats, will be issued by Paymono and supported by Mastercard. It will provide services in 31 European countries and support multiple crypto assets, including FLOKI, BTC, and USDT.

After Bitcoin and Ethereum, investment products now offer exposure to a wider range of crypto assets, including increasingly popular options like Solana and Ripple.

Last month, Valour, a subsidiary of DeFi Technologies, officially launched the first Dogecoin ETP on Sweden’s Spotlight Stock Market. The product enables retail and institutional investors in the Nordic region to gain exposure to DOGE, the seventh-largest crypto asset without the complexities associated with direct ownership.