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Floki Token Heads to Institutional Markets with Planned ETP Launch

Floki Token Heads to Institutional Markets with Planned ETP Launch

Bitget Academy2024/12/26 08:38
By:Bitget Academy

The Floki cryptocurrency project is set to launch an exchange-traded product (ETP) in Europe by early 2025, making it only the second meme token, after Dogecoin, to achieve such a milestone. The Floki development team has collaborated with an unnamed asset manager and ETP issuer to create this inst

The Floki cryptocurrency project is set to launch an exchange-traded product (ETP) in Europe by early 2025, making it only the second meme token, after Dogecoin, to achieve such a milestone. The Floki development team has collaborated with an unnamed asset manager and ETP issuer to create this institutional product, which will be available on the SIX Swiss Exchange, Europe’s third-largest stock exchange. This ETP aims to provide institutional and retail investors with regulated exposure to FLOKI tokens.
To support the initiative, the Floki DAO is voting on whether to allocate some of the 16 billion FLOKI tokens (valued at $2.8 million) held in the project’s treasury wallet to provide early liquidity for the ETP. If approved, these tokens would remain Floki's property and could be withdrawn once sufficient third-party liquidity is established.
The proposal is under review by the Floki community, with voting set to conclude on December 27. Details such as fund structure and opening prices remain undisclosed due to non-disclosure agreements. The project reflects Floki's evolution from a meme token to a utility-driven asset.
 
Source: CoinDesk

Futures Market Updates

Over the past 24 hours, both BTC and ETH futures saw a decline in open interest and trading volume, with ETH futures experiencing a steeper drop in open interest (-1.94%) compared to BTC (-0.32%). BTC's trading volume fell by 20.50%, while ETH's decreased slightly more at 21.33%. Liquidations were higher for ETH futures, particularly on the long side ($27.35M vs. BTC’s $18.11M). BTC's long/short ratio remained nearly balanced, whereas ETH futures showed a slight bearish tilt (51.11% shorts). Despite this, ETH futures had a slightly higher funding rate (0.0084%) than BTC (0.0077%).
 

BTC Futures Updates

Total BTC Open Interest: $60.74B (-0.32%)
BTC Volume (24H): $79.11B (-20.50%)
BTC Liquidations (24H): $18.11M (Long)/$17.27M (Short)
Long/Short Ratio: 50.16%/49.84%
Funding Rate: 0.0077%
 

Ether Futures Updates

Total ETH Open Interest: $23.41B (-1.94%)
ETH Volume (24H): $28.07B (-21.33%)
ETH Liquidations (24H): $27.35M (Long)/$13.42M (Short)
Long/Short Ratio: 48.89%/51.11%
Funding Rate: 0.0084%
 

Top 3 OI Surges

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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