21Shares Debuts Toncoin Staking ETP TONN on SIX Exchange
21Shares, a prominent cryptocurrency exchange-traded product (ETP) issuer, is launching a staking ETP based on Toncoin (TON).
The Toncoin Staking ETP is a physically backed product that tracks TON’s performance and reinvests staking yields for enhanced performance.
The product will begin trading on the Swiss SIX Exchange under the ticker TONN on March 27.
21Shares co-founder and president Ophelia Snyder stated that TONN is the “first and only TON ETP” ever launched. Staking ETPs are superior to non-staking ETPs as the staking yield benefits ETP holders, as a non-staking ETP would forego their income stream, paid in TON. The Toncoin Staking ETP holds $25 million at launch, equivalent to approximately 5 million TON.
(With inputs from Shikha Singh)
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