CoinShares, a leading European digital asset manager, recently unveiled their CoinShares Physical Staked Toncoin Exchange-Traded Product (ETP) on SIX Swiss Exchange to give investors access to Toncoin (TON), the native cryptocurrency of The Open Network that powers Telegram’s ecosystem. This ETP provides investors with regulated exposure to Toncoin (TON), while physical backing ensures 1:1 ratio with actual tokens; furthermore it boasts no management fee – making this ETP one of Europe’s cost-effective options for accessing TonCoin/TonCoinshares
Strategic Timing Amid Market Conditions
Toncoin ETP’s launch comes at a time when its market capitalization has seen a substantial drop of 59% year-to-date to approximately $5.7 billion.
CoinShares remains hopeful about TON’s long-term prospects despite this decline, noting its integration with Telegram’s user base of over 900 million and high performance capabilities including processing over 104,000 transactions per second – both capabilities can help make its overall performance competitive in its respective space. PR Newswire
Jean-Marie Mognetti, CEO and Co-Founder of CoinShares, noted TON’s unique contribution to blockchain infrastructure by connecting established platforms to decentralized technology. This integration perfectly aligns with CoinShares’ hybrid finance investment thesis focusing on projects that merge blockchain innovation with real world applications (PR Newswire).
Product Features and Market Access.
The CoinShares Physical Staked Toncoin ETP boasts several key advantages, such as:
Zero Management Fee: With its competitively-priced TON ETP offering no management fee, this product stands out among Europe’s many offerings of this kind.
Investors can realize a 2% Staking Yield through automatic staking of TON tokens.
Physically Backed: The Exchange-Traded Portfolio provides direct 1:1 exposure to underlying TON tokens.
Exchange Trading: They trade on the SIX Swiss Exchange using USD. Similar to traditional securities.
European Access: CoinShares’ European Investor Access product will provide regulated access to TON for European investors through CoinShares’ existing market footprint.
CoinShares recently expanded their digital asset products portfolio with the inclusion of TON in the US-listed CoinShares Altcoins ETF (DIME), introduced earlier in October. CoinShares’ launch of an Exchange Traded Product (ETP) underscores their dedication to offering institutional and retail investors exposure to blockchain projects with real world applications.
Reception and Outlook of Market Receptivity and Forecast
After its announcement, Toncoin saw a small uptick of approximately 5%, reaching $2.30. While this increase may signal potential market interest in CoinShares Physical Staked Toncoin ETP and whether or not institutional players can sustain long-term support, much depends on factors like network performance of Toncoin (TON), adoption of Telegram Web3 ecosystem and overall cryptocurrency market sentiment for success of such ETPs in future.
CoinShares’ launch of Toncoin ETP represents a strategic step to provide European investors with easy, cost-effective access to TON. Even during times of market decline, its integration into Telegram’s vast user base and high-performing blockchain capabilities makes TON an attractive asset for long-term investments.
