In a strategic move tapping into the burgeoning interest in crypto staking, 21Shares has unveiled the Toncoin Staking ETP (TONN), a pioneering exchange-traded product listed on the Swiss SIX Exchange. This innovative ETP is designed to streamline the process of earning staking rewards from the Toncoin (TON), the native token of The Open Network (TON) — a blockchain platform endorsed by the popular messaging app, Telegram.
Simplifying Staking for Investors
The 21Shares Toncoin Staking ETP stands out by offering investors an accessible path to staking rewards, eliminating the complexity and technical barriers associated with setting up and maintaining a blockchain node. This development is particularly significant for those keen on participating in the TON blockchain’s operations, ensuring they can contribute to and benefit from the network’s growth and success without the need for technical expertise.
The TON Blockchain: Telegram’s Web3 Vision
Initiated by Telegram in 2018, the TON blockchain project was aimed at creating a foundational layer for Telegram’s Web3 infrastructure. Despite facing regulatory hurdles from the U.S. Securities and Exchange Commission (SEC) that led to Telegram stepping back from the project in 2020, the TON blockchain found new life through the dedication of its community. In a notable endorsement, Telegram officially recognized TON as its preferred blockchain for Web3 applications last year, reaffirming the project’s potential and relevance in the broader digital landscape.
21Shares: A Trailblazer in Crypto ETPs
21Shares has established itself as a leader in the crypto financial products space, with a history of pioneering exchange-traded products in Europe. The company’s latest venture into Toncoin staking reflects its commitment to expanding the range of crypto investment opportunities available to the public. With over $5 billion in assets under management and a track record of innovation, 21Shares continues to play a crucial role in bridging the gap between traditional finance and the crypto economy.
The launch of the TONN ETP marks a significant milestone in the evolution of crypto staking services, offering investors a new avenue to engage with and benefit from the growth of blockchain networks. As the TON blockchain gains momentum under Telegram’s endorsement, the 21Shares Toncoin Staking ETP represents a forward-thinking investment strategy aligned with the future of digital finance.
