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.
At the time of publication, 140 votes have been cast in favor of the proposal, with 0 voting against it. The voting period will end at 11:00 UTC on Dec. 27.
