Coinshares, a major crypto asset management company headquartered in Europe, has launched a new investment product that offers exposure to Telegram linked to Toncoin.
Coinshares International announced A merger with blank-check company Vine Hill Capital Investment Corp. to launch an exchange traded product (ETP) in Toncoin (Tons).
The new product, Coinshares Physical Staked Toncoin, started Trading on Switzerland’s main stock exchange was six under the ticker CTON on Tuesday.
Toncoin is the native crypto asset of the open network (Tons), a blockchain platform closely integrated with Telegram messenger. Over the past year, TON has seen a significant decline, with market capitalization falling 59% year-to-date to $5.7 billion at the time of publication, according That coingecko.
2% staking yield
“With 900+ million active Telegram users and Ton’s high-performance capabilities of more than 104,000 transactions per second, blockchain combines technical performance with existing market reach,” Coinshares said in a statement announcing CTON’s launch.
The new ETP will offer automatic generation of yield from the network Verification rewardsfeaturing a 2% staking yield, with trades available in US dollars, it said.
Coinshares’ Toncoin ETP product in Europe is not the first time for the crypto asset manager to integrate tons into crypto investment products.
Ton is also part of coinshares altcoins etf (dime), a US-traded ETP that launched In early October, offers exposure to many Altcoinsincluding Solana (Sol), Polkadot (Dot), Cardano (There is), Kosmos (Atom) and so on.
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The news comes amid the Telegram wallet, a third-party crypto wallet app on Telegram, rolling over tokenized stock and exchange-traded fund (ETF) of Xstocks.
According to an announcement on Monday, the Wallet on Telegram began offering tokenized shares of 50 stocks and ETFs, with some of them offering dividends.
Toncoin reacted moderately to the news, rising nearly 5% to $2.30 on Tuesday. At the time of publication, the token is ranked as the 35th largest cryptocurrency by market capitalization, according to Coingecko.
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