21Shares Introduces Toncoin Staking ETP on Swiss SIX Exchange

21Shares Introduces Toncoin Staking ETP on Swiss SIX Exchange - Industry News - News

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.