Toncoin

21Shares has launched an exchange-traded product based on Toncoin, tracking asset price fluctuations and reinvesting profits into staking. 
According to today’s <a href="https://www.globenewswire.com/news-release/2024/03/27/2853204/0/en/21Shares-Launches-Revolutionary-Toncoin-Staking-ETP-TONN-for-Hassle-Free-Staking-Rewards.html" target="_blank" rel="noreferrer noopener">press release</a>, <a href="https://crypto.news/tag/21shares/" target="_blank" rel="noreferrer noopener">21Shares</a> Toncoin Staking <a href="https://crypto.news/tag/ETP/" target="_blank" rel="noreferrer noopener">ETP</a> is listed on the SIX Swiss Exchange under the TONN ticker. The company described the fund as an innovative product that provides investors with a convenient way to participate in the staking ecosystem and quickly receive rewards. 
<blockquote class="wp-block-quote"> 
 “Investors can now enjoy the benefits of staking Toncoin while leveraging the liquidity and convenience of traditional financial markets.” <cite>21Shares press release</cite>
</blockquote> 
According to the <a href="https://21shares.com/product/TONN" target="_blank" rel="noreferrer noopener">official website</a>, $25 million has already been invested in the product. The fund management fee is 2.5% per annum. 
Toncoin (<a href="https://crypto.news/price/Toncoin/" target="_blank" rel="noreferrer noopener">TON</a>) reacted slightly to the news. When writing, the asset is trading at $4.96, down nearly 2.4% in the last 24 hours. However, in general dynamics, the coin shows steady growth over seven days and a month, rising prices by 19% and 126%, respectively. 
 You might also like: <a href="https://crypto.news/toncoin-accumulation-increases-buy-signal-triggered/"> Toncoin accumulation increases, buy signal triggered </a> 
<figure class="wp-block-image size-large">
 <img loading="lazy" decoding="async" width="1024" height="590" src="https://crypto.news/app/uploads/2024/03/Screenshot-2024-03-27-at-17.44.39-1024x590.png" alt="21Shares launches Toncoin staking ETP, TON reacts with price decline - 34" class="wp-image-14261461">
 <figcaption class="wp-element-caption">
 Source: CoinMarketCap
 </figcaption>
</figure> 
Since February, Toncoin has continued to demonstrate positive momentum through the launch of a series of initiatives. The latest initiative was a 30 million TON distribution for user participation in ecosystem projects. According to the developers, the program <a href="https://crypto.news/ton-open-league-launch-telegram/" target="_blank" rel="noreferrer noopener">is designed</a> to expand the TON user base. 
In early March, the <a href="https://crypto.news/tag/binance/" target="_blank" rel="noreferrer noopener">Binance</a> exchange <a href="https://crypto.news/binance-to-launch-toncoin-perpetual-contract-amid-market-hype/" target="_blank" rel="noreferrer noopener">launched</a> perpetual futures on Toncoin with leverage up to 50x. The contracts also support a “multi-asset” mode, which allows trade with margin in several cryptocurrencies. 
 You might also like: <a href="https://crypto.news/ton-collaboration-fireblocks-dwf-labs/"> TON announces collaboration with Fireblocks and DWF Labs </a>

21Shares launches Toncoin staking ETP, TON reacts with price decline

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