FLOKI enters the stock exchange

FLOKI price jumped 28.5% this week.

At first glance, there’s no obvious reason. But it turns out that a Swedish stock exchange just launched an exchange-traded product (ETP) that tracks FLOKI’s price.

In other words, stock traders can now speculate on FLOKI’s moves without ever touching crypto – no wallet, no coins, just their regular brokerage accounts.

Let’s pause for a second. Who is this product really for? For people who don’t deal with actual crypto. Now, do you think they care about FLOKI?

On rabbit.io, FLOKI is far from being a popular swap direction. Sure, you can swap any crypto for FLOKI and back, but these pairs rarely see much action. Even overall, FLOKI is nowhere near the market leaders – it’s not even in the top 100 by market cap.

So it almost feels like the company behind this ETP decided to troll the stock traders a bit. And the meme crowd loves that kind of thing. That, I think, explains FLOKI’s price jump – not some sudden demand from Sweden’s stock market.