CoinShares, one of Europe’s leading crypto asset management firms, has introduced a new exchange-traded product (ETP) offering investors exposure to Telegram-affiliated Toncoin.
The company announced that it has merged with blank-check firm Vine Hill Capital Investment Corp. to launch the product, named CoinShares Physical Staked Toncoin (CTON). Trading began Tuesday on Switzerland’s primary stock exchange, SIX, under the ticker CTON.
Toncoin, the native token of The Open Network (TON) — a blockchain closely integrated with the Telegram messaging app — has struggled in recent months. Its market capitalization has fallen 59% year-to-date, dropping to $5.7 billion, according to CoinGecko data.
In its launch statement, CoinShares highlighted TON’s scalability and vast potential user base:
“With Telegram’s 900+ million active users and TON’s capacity of over 104,000 transactions per second, the blockchain combines strong technical performance with broad market reach,” the firm said.
The new ETP will feature automatic yield generation through network validation rewards, offering investors a 2% staking yield, with trading available in U.S. dollars.
CoinShares’ new Toncoin ETP in Europe isn’t the firm’s first product to feature the Telegram-linked asset.
Toncoin is already included in the CoinShares Altcoins ETF (DIME) — a U.S.-listed exchange-traded product launched in early October. The ETF provides diversified exposure to several major altcoins, including Solana, Polkadot, Cardano, Cosmos, and others.
The launch of CTON also coincides with developments within the Wallet in Telegram app — a third-party crypto wallet integrated into Telegram — which recently introduced tokenized stocks and exchange-traded funds (ETFs) through its partnership with xStocks.
According to a Monday announcement, Wallet in Telegram has begun offering tokenized shares of 50 stocks and ETFs, some of which include dividend payouts.
Following the news, Toncoin saw a modest uptick, climbing around 5% to $2.30 on Tuesday. At the time of writing, the token ranked as the 35th-largest cryptocurrency by market capitalization, according to CoinGecko.
