Floki ETP: A New Exchange-Traded Product for Institutional Investors
Introduction
Floki, a meme-turned-utility project, is working with an unidentified asset manager to develop an exchange-traded product (ETP) tracking its FLOKI token. This ETP could be available to investors in Europe early in the new year, according to one of the developers.
Background
Floki is a decentralized finance (DeFi) project that has gained popularity in recent times. The project’s token, FLOKI, has seen significant growth, and the team is now working on developing an ETP to provide institutional investors with a regulated way to gain exposure to the token.
ETP Details
The ETP is currently in an advanced stage and will become tradable on the SIX Swiss Exchange, the largest stock exchange in Switzerland and the third-largest in Europe. The ETP will allow institutional investors, regulated entities, and retail investors to get exposure to FLOKI in a regulated way.
Approval Process
The developers are seeking approval from the Floki DAO community to provide early liquidity to the product when it goes live. The vote runs for 48 hours and will end at 11:00 UTC on December 27.
Liquidity and Treasury Wallet
The developers are seeking approval to allocate part of the FLOKI required for the ETP from a treasury wallet that holds 16 billion tokens, worth just over $2.8 million at current prices. Tokens in that wallet were purchased from the open market over three years after the passage of another community vote.
Conclusion
The Floki ETP is a significant development for the project, providing institutional investors with a regulated way to gain exposure to the token. The ETP’s listing on the SIX Swiss Exchange will also increase the token’s visibility and liquidity.
FAQs
Q: What is the Floki ETP?
A: The Floki ETP is an exchange-traded product that tracks the FLOKI token.
Q: Who is developing the ETP?
A: The ETP is being developed by Floki in collaboration with an unidentified asset manager.
Q: When will the ETP be available?
A: The ETP is expected to be available in Europe early in the new year.
Q: What is the purpose of the ETP?
A: The ETP will provide institutional investors with a regulated way to gain exposure to the FLOKI token.
Q: How will the ETP be listed?
A: The ETP will be listed on the SIX Swiss Exchange.
Q: What is the treasury wallet?
A: The treasury wallet is a wallet that holds 16 billion FLOKI tokens, worth just over $2.8 million at current prices.
