Floki Soars 23% as Valour Launches Europe’s First FLOKI ETP

What to know:

• Floki's price jumped nearyl 23% in 24 hours after the launch of its first exchange-traded product (ETP) in Europe, called Valour Floki SEK ETP.
• The ETP, developed by Valour, allows retail and institutional investors to gain exposure to FLOKI without directly holding crypto, making Floki the first BNB Chain ecosystem token to secure an ETP besides BNB.
• The launch coincides with renewed momentum in BNB Chain projects, with BNB itself surging to a new all-time high.

A cryptocurrency project that started as a memecoin and has since evolved with its own ecosystem, has seen its price jump nearly 23% in the last 24 hours after the launch of its first exchange-traded product (ETP) in Europe.

The new offering, called Valour Floki SEK ETP, launched on Oct. 3 on Sweden’s Spotlight Stock Market, making Floki the first BNB Chain ecosystem token to secure an ETP besides BNB itself.

Developed by Valour, a subsidiary of DeFi Technologies, the product is designed for both retail and institutional investors who want exposure to the FLOKI token without holding crypto directly.

Floki, which exists on both the Ethereum and BNB chains, has an ecosystem that includes a play-to-earn non-fungible token (NFT) game, a DeFi asset locker, an NFT marketplace, and a crypto education platform.

The launch coincides with renewed momentum in BNB Chain projects. BNB itself surged past $1,150 this week to a new all-time high, before seeing a correction to just below that level.