21Shares Introduces Toncoin Staking ETP on Swiss SIX Exchange


Share link:


  • 21Shares has listed a new Toncoin Staking ETP (TONN) on the Swiss SIX Exchange, facilitating easy access to staking rewards for investors.
  • The TON blockchain, originally started by Telegram, has received an official endorsement after overcoming regulatory challenges.
  • With over $5 billion in assets under management, 21Shares continues to expand its portfolio of cryptocurrency investment products.

21Shares, a recognized cryptocurrency assets management firm, is going to list a new ETP which will target staking Toncoin(TON) token of The Open Network(TON) system.

One of the recent ETPs launched is the 21Shares Toncoin Staking ETP (TONN) that was listed on the SIX Swiss Exchange and provides clients with a simplified approach to earning staking rewards without necessarily needing to manage a peer-to-peer staking node.

This ETP is for investors who want to jump on board and be part of the rewards pool of a staking process, a process in which some cryptocurrency tokens are locked for the purpose of supporting a blockchain‘s security through staking rewards. The launch of the TON blockchain had already been planned by Telegram in 2018, in due course, however, development was frozen in 2020 by the SEC as a measure of caution due to the U.S. securities concern. However, the proposal seemed to be rejected by the community. Still, a year later, it was openly endorsed by Telegram, which put it in the first priority among all the options suitable for Web3 infrastructure.

21Shares has made its name as an early leader in the crypto ETP space, operating in Europe and listing multiple products. Moreover, it launched a Bitcoin spot ETF in the FSAs. Based in Zurich, the investment company recently revealed how it exceeded $5 billion in assets under management (AUM), detailing its expansion and the increasing attention to funding investment products based on cryptocurrencies.

The recent launch of TONN ETP by the 21Shares company is a testament to its continuous innovation within the crypto investment market, thereby making it less complicated for investors to reap the benefits of staking in the exciting world of cryptocurrency. For 21Shares, this would be yet another product enabling the company to widen its crypto investments variety that caters to a range of diversification demands by investors of cryptocurrencies.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Share link:

Damilola Lawrence

Damilola is a crypto enthusiast, content writer, and journalist. When he is not writing, he spends most of his time reading and keeping tabs on exciting projects in the blockchain space. He also studies the ramifications of Web3 and blockchain development to have a stake in the future economy.

Most read

Loading Most Read articles...

Stay on top of crypto news, get daily updates in your inbox

Related News

Long Do CEO Anomaly Interview
Subscribe to CryptoPolitan