21Shares introduces the TONN ETP on Swiss SIX, combining Toncoin staking with convenient accessibility.
TONN ETP introduces a seamless connection between traditional finance and the cutting-edge blockchain technology of Toncoin.
Tonn ETP is now making Toncoin staking accessible to everyone without needing 600K TONNE.
21Shares, a company specialising in cryptocurrency exchange-traded products (ETPs), has recently introduced a new ETP focused on Toncoin (TONNE). The TONN ETP, with the ticker TONN, will begin trading on the Swiss SIX Exchange, introducing a cutting-edge investment product to the market.
Introducing the Toncoin Staking ETP
The Toncoin Staking ETP, with its ticker TONN, is an innovative financial product that aims to track the performance of Toncoin closely. It stands out as one of the pioneers in incorporating staking yields into the ETP, making it a unique offering in the market. This reinvestment mechanism is specifically engineered to optimise the overall performance of the ETP. Launching on the Swiss SIX Exchange, introducing TONN is a significant milestone for 21Shares and investors seeking exposure to Toncoin through conventional financial instruments.
This ETP allows investors to receive dividends from Toncoin staking without the hassle of managing a staking node. Participating in staking on the TONNE blockchain typically requires holding a substantial stake of at least 600,000 TONNE. The consensus model employed is proof-of-stake. The primary goal of the TONN ETP is to enhance the accessibility of staking rewards by pooling resources and providing a more user-friendly package.
Examining the Influence on the Market and Ease of Access for Investors
The introduction of 21Shares’ TONN ETP is anticipated to impact the market significantly. The ETP aims to make cryptocurrency investments more accessible to a broader audience by providing a structured and regulated investment product that utilises the staking rewards of Toncoin. This also applies to individuals who may have hesitated to engage directly with cryptocurrencies due to the intricacies of staking or the speculative nature of the crypto market.
Furthermore, the TONN ETP bridges traditional financial markets with the rapidly expanding cryptocurrency market. It offers convenient and seamless access, ensuring liquidity and compatibility with other exchange trade products. This fusion of conventional financial mechanisms with cryptocurrency’s innovative and thrilling rewards systems presents an appealing opportunity for both long-time crypto enthusiasts and newcomers to the field.
The Role of The Open Network and Its Prospects
The Open Network (TONNE) has emerged as a prominent blockchain platform, gaining recognition after receiving approval from the popular messaging app Telegram. Originally known as Telegram Open Network, it has now evolved into a significant player in the field. Despite regulatory obstacles, Telegram supports the TONNE ecosystem and actively contributes to its growth and adoption.
The introduction of the TONN ETP aligns with a growing fascination with cryptocurrency and blockchain technology, propelled by the wider acceptance of digital currencies and the incorporation of blockchain into different industries. Given TON’s recent performance and the increasing popularity of staking for passive income, the TONN ETP has the potential to stimulate more growth and interest in Toncoin and other blockchain projects.
At the same time, considering the downward movement of the Toncoin (TONNE) price, the positive outlook sparked by this launch could counteract the current trend. At the current moment, TONNE trades at $4.94, showing a 3.5% decrease from its peak earlier in the day.
