21Shares has introduced the 21Shares Toncoin Staking ETP (TONN), the first exchange-traded product to offer exposure to toncoin with staking rewards. Listed on the SIX Swiss Exchange, TONN provides investors access to toncoin, the native currency of the TON network, and rewards from staking, a process where crypto assets are deposited on the blockchain to validate transactions and generate a premium.
21Shares Unveils Groundbreaking Toncoin Staking ETP, Revolutionizing Crypto Investment Landscape
Zurich, Switzerland – In a major stride forward for the cryptocurrency market, 21Shares, a leading provider of cryptocurrency exchange-traded products (ETPs), has launched the first-of-its-kind 21Shares Toncoin Staking ETP (TONN). This innovative product grants investors unprecedented exposure to toncoin, the native currency of the Telegram-endorsed TON network, while simultaneously offering the potential for lucrative staking rewards.
Listed on the prestigious SIX Swiss Exchange, TONN boasts a competitive total expense ratio of 2.50%. Its inception marks a significant milestone in the evolution of cryptocurrency investing, as it empowers investors to harness the full potential of staking within a regulated and accessible environment.
Toncoin serves as the backbone of the TON network, a decentralized layer 1 proof-of-stake blockchain. This revolutionary blockchain, now known as "The Open Network," empowers users with an array of decentralized services, including secure storage, seamless payments, and a user-friendly wallet that seamlessly integrates within popular messaging applications such as WeChat.
The 21Shares Toncoin Staking ETP (TONN) provides investors with direct exposure to toncoin while offering the added benefit of staking rewards. Staking involves depositing crypto assets onto the blockchain to validate transactions and generate a premium, which is then distributed to investors. This passive income generation mechanism has gained significant traction in the cryptocurrency community, offering investors an additional layer of return on their investments.
Ophelia Snyder, Co-founder and President of 21Shares, hailed the launch of TONN as a game-changer for the investment community. "This ETP unlocks a new frontier for investors, providing a frictionless pathway to access staking rewards within the blockchain ecosystem," Snyder remarked.
The launch of TONN comes on the heels of 21Shares' successful listing of the 21Shares Celestia Staking ETP (ATIA) on the Euronext Amsterdam and Euronext Paris exchanges just a month prior. These successive developments underscore 21Shares' commitment to expanding its cryptocurrency product suite and empowering investors with cutting-edge investment solutions.
With the introduction of the 21Shares Toncoin Staking ETP, 21Shares solidifies its position as a trailblazer in the cryptocurrency ETP landscape. By combining the stability and regulation of traditional finance with the innovative potential of blockchain technology, 21Shares is transforming the way investors engage with the rapidly evolving world of digital assets.
