CoinShares’ New Staked Toncoin ETP Offers 2% Yield on Swiss Exchange
CoinShares has launched a new exchange-traded product (ETP) that provides investors with staked yield on Toncoin (TON), the native cryptocurrency of the Telegram-linked Open Network.
The CoinShares Physical Staked Toncoin (CTON) ETP is now trading on the SIX Swiss Exchange, the company announced Tuesday. A key feature for investors is the product’s built-in staking mechanism, which automatically generates a 2% yield from network validation rewards, with trading settled in US dollars.
The launch provides a streamlined, institutional-grade avenue to gain exposure to TON, which powers a blockchain platform integrated with the Telegram messenger app. The move appears forward-looking, as it coincides with a downturn for the asset; TON’s market cap has dropped 59% this year to $5.7 billion.
CoinShares highlighted TON’s potential for mass adoption, pointing to Telegram’s vast user base of over 900 million and the network’s high transaction throughput. This is the firm’s second product to include TON, following the multi-asset Altcoins ETF (DIME).
