21Shares Unveils Toncoin ETP, Inviting Investors into the Crypto Race

21Shares has launched 21Shares Toncoin Staking ETP, an exchange-traded product based on Toncoin, on the SIX Swiss Exchange under the ticker TONN. The fund enables investors to participate in the staking ecosystem and earn rewards while leveraging the liquidity and convenience of traditional financial markets.

Who's Investing in Toncoin?

21Shares has debuted its exchange-traded product (ETP) linked to Toncoin, offering exposure to the cryptocurrency's price swings and auto-staking rewards. Listed under the ticker "TONN" on the SIX Swiss Exchange, the 21Shares Toncoin Staking ETP aims to make staking accessible and lucrative for investors.

How's the ETP Structured?

The fund reinvesting profits from staking into the underlying asset, enabling investors to maximize their returns and minimize the time needed to unstake their holdings. With a fund management fee of 2.5% annually, this product offers convenience and liquidity, mirroring the structure of traditional financial markets.

Is Interest in Toncoin Growing?

The ETP launch has sparked modest interest, as Toncoin's price has remained relatively stable. The cryptocurrency's recent performance has been impressive, with significant gains over the past week and month. Toncoin's trading volume has also surged, suggesting increased investor activity.

What's Driving Toncoin's Momentum?

Toncoin has maintained its positive trajectory since February, fueled by several initiatives. A notable move was the distribution of 30 million TON tokens to entice participation in ecosystem projects, potentially expanding the user base. Additionally, Binance's introduction of perpetual futures and margin trading on Toncoin has broadened its accessibility and trading options.

Is Toncoin a Wise Investment Choice?

While the recent launch of the ETP signals institutional interest, investors should exercise caution when considering Toncoin. The cryptocurrency's volatility and susceptibility to market fluctuations warrant due diligence. Monitoring Toncoin's price and trading activity, along with news and developments within the project, is crucial for informed decision-making.