Canadian DeFi Technologies Launches Floki ETP on Swedish Stock Market
Canadian DeFi Technologies has launched an Exchange-Traded Product (ETP) for the meme coin Floki on the Swedish Spotlight Stock Market, becoming the second regulated investment vehicle for a meme coin in Europe. The ETP, fully compliant with the EU's Markets in Crypto-Assets (MiCA) regulation, offers institutional and private investors regulated access to FLOKI through traditional brokerage accounts.
Following the launch, FLOKI's market capitalization surged past one billion dollars. To ensure liquidity, Valour, the digital asset unit of DeFi Technologies, secured 16 billion FLOKI tokens from the project treasury as a liquidity buffer for the ETP.
DeFi Technologies aims to expand aggressively, targeting 100 different ETPs by the end of the year. The Floki launch serves as a significant milestone in this strategy. Industry experts and financial analysts from Valour have shown interest in Floki's stock purchase, highlighting institutional engagement and a broader shift toward regulated crypto investment products.
DeFi Technologies' Q3 earnings call on November 17th will provide insights into the performance of new products like the Floki ETP and their impact on assets under management. As the second regulated meme coin ETP in Europe, following a similar Dogecoin product, the Floki ETP is poised to attract investors seeking exposure to meme coins in a regulated environment.
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