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STOCKHOLM - The Floki cryptocurrency has made its entrance into regulated European markets through a new exchange-traded product (ETP) launched by Valour Inc., according to a press release statement issued Monday.
The Valour Floki SEK, listed on Sweden’s Spotlight Stock Market, represents the first ETP linked to the Floki token and marks the first such product tied to a project on the BNB Chain other than Binance’s own token.
Trading at 18.99 Swedish kronor with 100,000 SEK in assets under management, the certificate has no expiration date and charges a 1.9 percent management fee. The product is available on several brokerage platforms including Avanza, Nordnet, comdirect, ING, Scalable Capital, Degiro, and justTRADE.
The ETP tracks FLOKI, the native token of the Floki ecosystem, which is used for payments, governance, staking, and accessing various services including decentralized finance platforms and an NFT gaming metaverse called Valhalla.
According to the announcement, Valour’s certificate products are fully hedged by the underlying digital assets, with custody provided by licensed institutions such as Copper. The company’s base prospectuses have received approval from the Swedish Financial Supervisory Authority, ensuring compliance with EU transparency requirements.
The Floki token is currently available on major cryptocurrency exchanges including Binance, Coinbase, Kraken, and Bitstamp.
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