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    CoinShares Introduces Toncoin ETP Featuring Staking Option

    Ethan CarterBy No Comments2 Mins Read
    CoinShares Introduces Toncoin ETP Featuring Staking Option

    CoinShares, a prominent crypto asset management firm based in Europe, has unveiled a new investment product that offers access to Toncoin, which is linked to Telegram.

    CoinShares International announced a collaboration with Vine Hill Capital Investment Corp., a blank-check company, to introduce an exchange-traded product (ETP) based on Toncoin (TON).

    The new offering, CoinShares Physical Staked Toncoin, began trading on Switzerland’s main stock exchange SIX under the ticker CTON on Tuesday.

    Toncoin serves as the native cryptocurrency for The Open Network (TON), a blockchain platform closely tied to the Telegram platform. Over the last year, TON has experienced a notable decline, with its market capitalization dropping 59% year-to-date to $5.7 billion at the time this article was published, according to CoinGecko.

    2% staking yield

    “With over 900 million active users on Telegram and TON’s exceptional performance capabilities of exceeding 104,000 transactions per second, this blockchain merges technical excellence with an established market presence,” CoinShares stated in its announcement regarding the launch of CTON.

    The new ETP will generate automatic yields from network validation rewards, featuring a 2% staking yield, and trades will be available in US dollars.

    019a2f50 190b 7252 aec3 0184965d2842
    Data on the CoinShares Physical Staked Toncoin as of Wednesday. Source: CoinShares

    CoinShares’ Toncoin ETP in Europe marks the second occurrence of the crypto asset manager including TON in its investment products.

    TON is also featured in the CoinShares Altcoins ETF (DIME), a US-traded ETP that launched earlier in October and provides exposure to various altcoins, including Solana (SOL), Polkadot (DOT), Cardano (ADA), Cosmos (ATOM), and several others.

    Related: Bitwise Solana Staking ETF achieves $55M trading volume during debut

    This announcement comes as Wallet in Telegram, a third-party crypto wallet app integrated within Telegram, begins offering tokenized stocks and exchange-traded funds (ETFs) via xStocks.

    Telegram, Stocks, TON, CoinShares, Staking, Companies
    Source: Wallet in Telegram

    According to a recent announcement, Wallet in Telegram has initiated the provision of tokenized shares for 50 stocks and ETFs, with some offering dividends.

    Toncoin had a modest reaction to the news, increasing approximately 5% to $2.30 on Tuesday. As of this publication, the token was positioned as the 35th largest cryptocurrency by market capitalization, based on CoinGecko data.