The Floki DAO has unanimously approved the use of a portion of 16.3 billion Floki tokens from its community buyback wallet as liquidity for the upcoming Floki exchange-traded product (ETP). Scheduled to launch in the first quarter of 2025 on the SIX Swiss Exchange, this ETP aims to provide traditional finance investors in Europe exposure to the memecoin, which is currently ranked 66th by market capitalization. A spokesperson for Floki emphasized that the ETP listing would lend legitimacy to the community-driven memecoin, marking a significant development in the memecoin industry. Despite the positive vote, the price of Floki has decreased by approximately 3.6% in the last 24 hours. Memecoins had a strong performance in 2024, yielding an average return of around 2185%. Google search interest for memecoins has also surged, indicating a growing fascination within the cryptocurrency community. However, prominent figures like former Binance CEO Changpeng Zhao have expressed skepticism about the potential for market speculation surrounding meme coins, urging for the development of real applications using blockchain technology.

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