The Floki DAO has voted unanimously to approve a proposal to create a Floki ETP. Without a single opposing decision, this historic vote will use 16.31 billion FLOKI tokens from a community buyback wallet. A portion will fund liquidity for the ETP, while the rest will be burned.
The Floki ETP will go live in Q1 2025 and become the second memecoin ETP to list on a regulated stock exchange, following Dogecoin. For the first time, the asset will be supported by a well-regarded asset manager and ETP issuer with the aim of improving access for traditional finance, or TradFi, investors.
The only true difference between an ETP and an ETF involves a couple of minor structural differences. An ETP is somewhat the bridge that connects crypto and TradFi; this allows institutions and retailers to have access to Floki through regulated and secure means. Much like ETFs, the idea behind an ETP was to make life easy for the widest possible range, seeking exposure to assets.
The latest development comes on the heels of Floki’s recent recognition by the Commodity Futures Trading Commission (CFTC). The agency presented FLOKI as a case study for utility tokens during a Global Markets Advisory Committee meeting, underlining the growing influence of Floki in the crypto and TradFi ecosystems.
Anticipation for Floki price Growth
Market watchers believe that FLOKI has a great future ahead. If one judges by its historical pattern, a major price explosion is expected anytime within the next 10 days. It may peak on Feb. 10, and this may catapult the meme coin into new all-time highs. A 5X increase from current levels is conservative.
The excitement goes beyond FLOKI and extends to related memecoin tokens such as TokenFi, CAT, and MONKY. Analysts also point to other potential trends within the larger Binance ecosystem.
This makes Floki’s commitment to innovation. Therefore, ecosystems’ expansion keeps it in the game as one of the larger players in the crypto world at all junctures. In the quest to be the most recognized and used cryptocurrency, each milestone ensures relevance within the ever-changing market.
