Despite a 59% decline, CoinShares introduces a staking ETP for TON
- CoinShares launched a physically-backed Toncoin ETP (CTON) on SIX Swiss Exchange, offering 2% annual staking yields and zero management fees for European investors. - The product targets TON's blockchain ecosystem despite its 59% year-to-date market cap decline to $6B, leveraging Telegram's 900M+ user base and 100,000 TPS capacity. - CoinShares' expansion follows its SPAC merger and aligns with industry trends as FalconX, 21Shares, and others pursue transatlantic crypto ETP growth through M&A strategies.
CoinShares, recognized as one of the leading digital asset managers in Europe, has introduced a new exchange-traded product (ETP) that tracks
This physically backed ETP, which is priced in U.S. dollars, is designed to connect institutional investors with the robust performance of TON’s blockchain. The network, capable of processing over 100,000 transactions per second and integrated with Telegram’s user base of more than 900 million, has seen its token price fall to $2.30, placing it as the 35th largest cryptocurrency by market capitalization, as reported by
CoinShares’ entry into the TON market follows its recent merger with Vine Hill Capital Investment Corp., a special-purpose acquisition company (SPAC), aimed at broadening its range of exchange-traded products. The company also features TON in its U.S.-listed Altcoins ETF (DIME), which tracks a portfolio of alternative cryptocurrencies, according to FinanceFeeds. This approach mirrors a wider industry movement, as crypto ETP providers such as FalconX and 21shares have expanded internationally through mergers and acquisitions.
The debut of this product aligns with a rising interest from institutions in blockchain-based yield solutions. For instance, Solana Company (NASDAQ: HSDT) recently announced a 7.03% annualized staking return on its SOL assets, surpassing benchmarks by 36 basis points, as noted in a
The Toncoin ETP from CoinShares also signals a broader regulatory movement to bring crypto assets into mainstream finance. CoinShares, which is regulated in Jersey, France, and the United States, presents CTON as a compliant investment option for both professional and individual investors seeking access to Telegram’s blockchain network. At the same time, Telegram has broadened its financial services, with its Wallet in Telegram app now supporting tokenized stocks and ETFs.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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