TLDR
- CoinShares International launched a new Toncoin ETP on Switzerland’s SIX exchange under the ticker CTON.
- The Toncoin ETP began trading on Tuesday and offers a 2% staking yield through automatic network validation rewards.
- TON’s market capitalization has fallen 59% year-to-date to $5.7 billion according to CoinGecko data.
- CoinShares partnered with Vine Hill Capital Investment Corp to bring the Physical Staked Toncoin product to market.
- The Open Network processes over 104,000 transactions per second and integrates with Telegram’s 900+ million active users.
CoinShares International has introduced a new Toncoin ETP on Switzerland’s SIX exchange. The product began trading on Tuesday under the ticker CTON. This launch comes as TON’s market capitalization stands at $5.7 billion.
The crypto asset management firm partnered with Vine Hill Capital Investment Corp for this release. CoinShares Physical Staked Toncoin offers investors direct exposure to the Telegram-linked cryptocurrency. The Toncoin ETP provides automatic yield generation through network validation rewards.
New Toncoin ETP Features Staking Rewards
The Toncoin ETP delivers a 2% staking yield to investors automatically. Trading is available in US dollars on the Swiss exchange. The product marks CoinShares’ expansion of crypto investment options in Europe.
“With Telegram’s 900+ million active users and TON’s high-performance capabilities of over 104,000 transactions per second, the blockchain combines technical performance with existing market reach,” CoinShares stated. The company emphasized TON’s integration with the popular messaging platform. The Open Network processes transactions at speeds exceeding 104,000 per second.
Toncoin has experienced a price decline over the past year. The cryptocurrency’s market cap has dropped 59% year-to-date. The asset currently ranks as the 35th-largest cryptocurrency globally.
CoinShares Expands TON Investment Products
This Toncoin ETP is not CoinShares’ first venture into TON investments. The company previously included Toncoin in its CoinShares Altcoins ETF. The US-traded product launched in early October under the ticker DIME.
The altcoins ETF offers exposure to multiple cryptocurrencies besides Toncoin. Solana, Polkadot, Cardano, and Cosmos are also included. The diversified fund trades on American exchanges.
Wallet in Telegram announced new tokenized stock offerings on Monday. The third-party crypto wallet app now provides 50 tokenized shares and ETFs. Some offerings include dividend payments through xStocks.
Toncoin’s price rose approximately 5% to $2.30 following the Toncoin ETP announcement. The token showed modest gains on Tuesday. Market data from CoinGecko confirmed the price movement.
The Toncoin ETP launch expands European crypto investment choices. Switzerland’s SIX exchange now hosts the new staking product. CoinShares continues building its cryptocurrency product portfolio with this addition.
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