CDS Crypto News 21Shares Introduces TONN Staking ETP on SIX Exchange
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21Shares Introduces TONN Staking ETP on SIX Exchange

The debut of 21Shares' Toncoin staking ETP, among the pioneering TON ETPs globally, marks its trading initiation on the SIX Exchange with the ticker symbol TONN.

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21Shares Introduces Tonn Staking Etp On Six Exchange

Crypto News- 21Shares, a leading issuer of cryptocurrency exchange-traded products (ETPs), has announced the launch of a groundbreaking investment opportunity: the Toncoin Staking ETP. Set to debut on the Swiss SIX Exchange under the ticker TONN on March 27, this innovative product offers investors a unique way to engage with the cryptocurrency market.

21Shares Introduces TONN Staking ETP on SIX Exchange

The Toncoin Staking ETP is designed as a 100% physically backed product, meaning it directly mirrors the performance of TON cryptocurrency while reinvesting staking yields to optimize returns. This approach allows investors to benefit from TON staking rewards without the hassle of managing a staking node themselves.

Operating on a proof-of-stake (PoS) model, the TON Blockchain rewards validators for supporting network security through staking. Typically, users need substantial TON holdings to participate in staking, but pooling assets is permitted, opening the door for broader participation.

21Shares Introduces Toncoin Staking ETP: Democratizing TON Staking for Investors

With the Toncoin Staking ETP, 21Shares aims to democratize access to TON staking, offering investors the convenience and liquidity of traditional financial markets. Ophelia Snyder, co-founder and president of 21Shares, emphasized the superiority of staking ETPs over non-staking ones, citing the additional income stream they provide in TON rewards.

At launch, the Toncoin Staking ETP holds $25 million, equivalent to approximately 5 million TON. This ETP’s debut net asset value stands at $20, offering investors a regulated and secure pathway to engage with The Open Network, which facilitates various decentralized services.

Exploring the Evolution of Toncoin: From Telegram’s Open Network to Independent Development

The Open Network, originally known as the Telegram Open Network, was developed by Pavel Durov’s Telegram. While Telegram’s formal involvement in the project ceased in 2020 due to legal challenges, the company remains committed to promoting TON technology and Toncoin.

TON has seen significant growth amid the broader cryptocurrency market rally, with a 134% surge in the past 30 days. Despite a slight decline in the past 24 hours, TON is trading at $4.97, further underlining its appeal to investors seeking exposure to innovative blockchain ecosystems like The Open Network.

21Shares Introduces Tonn Staking Etp On Six Exchange

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