CoinShares Connects Telegram and Blockchain through Launch of New TON ETP
CoinShares, recognized as a prominent digital asset manager in Europe, has introduced the CoinShares Physical Staked
The Open Network’s (TON) native token, Toncoin, has experienced a significant drop, with its market value falling by 59% since the start of the year to $5.7 billion at the time of writing, according to a
The CTON ETP is fully backed by TON tokens at a 1:1 ratio and is traded in U.S. dollars, giving both institutional and individual investors a regulated way to access staking rewards. This launch follows TON’s addition to CoinShares’ U.S.-listed Altcoins ETF (DIME), which began trading in early October and also includes assets such as
This announcement comes as the TON ecosystem sees further growth. Telegram’s third-party crypto wallet, Wallet, has revealed the launch of tokenized stocks and ETFs via xStocks, providing access to 50 different tradable assets with dividend features. After the ETP was introduced, Toncoin’s price increased by about 5% to $2.30 on October 29, but it still ranks as the 35th largest cryptocurrency by market cap.
Managing assets exceeding $10 billion, CoinShares highlighted its adherence to regulations in regions such as Jersey, France, and the United States. The company’s recent merger with Vine Hill Capital Investment Corp. has broadened its product range. Amid ongoing market fluctuations, the CTON ETP reflects a rising institutional appetite for blockchain projects that offer tangible real-world applications.
