If the vote is approved and the ETP goes ahead, Floki DAO will join Dogecoin as the second memecoin to have a registered ETP.
Floki DAO — the organization that manages the memecoin Floki — has proposed allocating a portion of its treasury to an asset manager in a bid to launch an exchange-traded product (ETP) in Europe, allowing institutional investors to gain exposure to the memecoin.
In a proposal submitted on Dec. 25, members of Floki DAO are currently voting on whether they should allocate liquidity for the ETP. The proposal requests using a portion of the 16 billion FLOKI — valued at $2.8 million at current prices — as liquidity for the future fund.
As of the time of publication, 140 votes had been cast in favor of the proposal, with none opposing it. The voting period is scheduled to conclude on Dec. 27.
