The world’s largest crypto ETF issuer, 21Shares, has announced 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 Telegram-linked altcoin TON.
Named TONN, the ETP has begun trading on the SIX Swiss Exchange, where 21Shares already offers numerous crypto products.
In today’s announcement by 21Shares, it was stated that TONN will track the performance of Toncoin and reinvest staking returns into the ETP. According to the announcement, TONN enables investors to earn staking rewards without running any nodes.
21Shares co-founder and CEO Hany Rashwan stated that TONN charges a 2.5% annual fee. The founder also mentioned a demand of around 40 million dollars under management at the time of the launch.
According to CoinGecko data, TON remains unaffected by the announcement and is currently trading at $4.9.
