Floki Develops Exchange-Traded Product in European Market, Expected to List in Q1 Next Year

Floki (FLOKI), which debuted in the market as a representative meme coin alongside Dogecoin (DOGE) and declared a transition to utility, announced that it is developing an exchange-traded product (ETF) tracking its token in the European market.

According to a report by CoinDesk on the 25th (local time), Floki's lead developer B stated, "We have been working for a long time to launch the Floki ETP product in collaboration with asset managers and ETP issuers active in the European market."

The developers have proposed a vote to the Floki DAO community to provide early liquidity for the product launch. The vote will be conducted for 48 hours and will end at 11:00 (UTC) on December 27th. If the proposal is approved, FLOKI tokens will remain as Floki assets to provide liquidity to the ETP, and once sufficient third-party liquidity is supplied to the ETP product, they can be withdrawn.