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FLOKI is poised to become the second memecoin to launch a regulated Exchange Traded Product after Dogecoin, following the Floki DAO’s final vote that approved the allocation of ETP currency tokens. The proposal gained “strong” support, with 332.7 billion tokens (99.9%) voting in favor, 328.9 million tokens rejecting, and no one against – a result that the team described as an opportunity for the first DAO proposal to pass without a vote against with it.
“This proposal, which was the first time that a Floki DAO proposal was passed without a single dissenting vote, will result in a portion of the 16,310,285,772.6 FLOKI tokens currently sitting in a ‘public return fund’ used to fund the Floki ETP while the rest are being burned,” it emphasized. the official announcement of the group by X.
FLOKI Aims to Mirror Dogecoin
Community members see this as a milestone event, as the Floki ETP is scheduled to launch in early Q1 2025 in partnership with what the team calls a “respected Asset Manager and ETP Issuer.” According to Floki representatives, it will be listed on the SIX Swiss Exchange, which is known as one of the largest stock exchanges in Europe, thus raising the profile of FLOKI in the traditional financial markets.
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Currently, Dogecoin remains the only other memecoin with a live ETP, although that product is traded on Sweden’s Spotlight Stock Market; the team notes that the listing on the Swiss exchange has the potential to attract wider attention from institutional investors and traders who want regulated access to crypto assets.
“Once live, the Floki ETP will allow institutional investors, regulated entities and retail investors to gain exposure to FLOKI in a regulated manner. “This is a big move that is almost unprecedented in this space, because Dogecoin is currently the only memecoin IN THE WORLD, with a live ETP – and Floki could be the next memecoin with an ETP outside of Dogecoin,” the DAO proposal said.
While many details remain under wraps due to undisclosed agreements, the team also revealed that any tokens allocated will remain Floki’s own property, meaning they can be withdrawn “if there is sufficient third-party capital in the ETP” later.
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The news comes after a recent meeting of the Commodity Futures Trading Commission’s Global Markets Advisory Committee, where memecoin was used as a “case study utility token.” Observers noted that any regulatory attention—especially of this kind—could increase the token’s credibility in a market that is always sensitive to signals of compliance.
The DAO-centric approach continues to be the foundation of the token’s philosophy, with regular community votes and suggestions shaping the direction of the project. Members have been supporting efforts focused on increasing memcoin’s recognition, saying the team aims to “become the most recognized and widely used cryptocurrency in the world.”
The reaction from the wider crypto community has also been enthusiastic. Crypto analyst Shelby, who has many followers, commented on X: “Big milestone – FLOKI is about to make history as the 2nd memecoin ETP! A clear sign of institutionalization while maintaining the shared roots. Not DOGE, not SHIB, but FLOKI is the best in combining TradFi and DeFi.”
At press time, FLOKI was trading at $0.0001798. Therefore, memecoin has returned to the 200-day EMA, an important line often called a “bull line.” However, memecoin is still trading below the major resistance area between $0.000205 and $0.000215 (shown in red on the chart). Reclaiming this area could open the gates to a new high for the year at $0.000349 starting in June.
The featured image was created with DALL.E, a chart from TradingView.com
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