European Crypto Company Launches Product Backed by an Altcoin!

The world’s largest crypto ETF issuer, 21Shares, has announced the launch of a new product for the Telegram-linked altcoin Toncoin (TON). 21Shares has revealed that it has launched an exchange-traded product (ETP) for the popular altcoin TON linked to Telegram. This ETP, called TONN, has started trading on the SIX Swiss Exchange, where 21Shares already offers many crypto products. In a statement released today by 21Shares, it was stated that TONN will track the performance of Toncoin and reinvest staking rewards into the ETP. According to the announcement, TONN allows investors to offer staking rewards without setting up any nodes. Hany Rashwan, founder and CEO of 21Shares, stated that TONN charges an annual fee of 2.5%. The founder also mentioned that there is a demand of around $40 million under management at the time of launch. According to CoinGecko data, TON remains unaffected by the announcement and is currently trading […]