Meme Coin Floki Working for ETP Approval in Europe

Floki is working on launching an Exchange-Traded Product (ETP) tracking its FLOKI token in Europe in the first quarter of 2025.

Floki is working on launching an Exchange-Traded Product (ETP) tracking its FLOKI token in Europe in the first quarter of 2025.

Negotiations are ongoing with an anonymous asset manager to bring this ETP to market. So, can the meme coin FLOKI really get an ETP in Europe? Here’s what experts are saying…

A Popular Meme Coin Floki Is Working for ETP Approval

An Exchange-Traded Product (ETP) is an investment product that can be traded on an exchange. Typically, an ETP tracks assets such as indices, commodities, stocks, or cryptocurrencies, similar to Exchange-Traded Funds (ETFs). ETPs provide investors with easy access to a specific asset class and can be bought and sold during trading hours. They offer liquidity advantages for investors and are regularly audited.

Floki’s developer stated:

“We’ve been actively working for quite a while now with a respected Asset Manager and ETP Issuer to launch the Floki ETP. After thorough due diligence and intensive efforts, we expect the Floki ETP to go live in the first quarter of 2025.”

Developers are seeking approval from the Floki DAO community to provide early liquidity for the product once it goes live. The vote will last 48 hours and end on December 27. If approved, the required amount of FLOKI for the ETP would need to be 16 billion tokens, equivalent to about $2.8 million at current prices. The tokens in this wallet were purchased from the open market over three years ago following a community vote.

If the proposal is accepted, the FLOKI tokens will remain the property of Floki while providing liquidity for the ETP. They could be withdrawn if sufficient third-party liquidity is secured. The developer mentioned, “The Floki ETP is at an advanced stage and will trade on SIX Swiss Exchange, the largest stock exchange in Switzerland and the third-largest in Europe. Once it goes live, the Floki ETP will offer institutional and individual investors exposure to FLOKI.”

With the ongoing price recovery, interest from traders and long-term investors seems to be increasing. According to Coinglass’ on-chain analysis, FLOKI’s Open Interest (OI) has increased by 14% in the past 24 hours. Major liquidation levels are currently at $0.000158 on the lower side and $0.000186 on the upper side. Coinglass reports that traders are highly leveraged at these points.

If the market sentiment remains unchanged and the price rises to $0.000186, approximately $165.35K worth of short positions will be liquidated. On the other hand, if the price falls to $0.000158, about $364.17K worth of long positions will be liquidated. Don’t forget to check out the latest FLOKI price analysis in this article from Kriptokoin.com.

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