CoinShares Unveils Staked Toncoin ETP Offering 2% Yield
CoinShares Expands Its Crypto Lineup
CoinShares, one of Europe’s largest digital asset managers, has launched an platform-traded product tied to Toncoin, the cryptocurrency associated with the Telegram-linked blockchain The Open Network (TON). The listing adds to the firm’s range of institutional crypto investment vehicles traded in Europe.
The new product, CoinShares Physical Staked Toncoin (CTON), began trading on Switzerland’s primary stock platform, the SIX Swiss platform, on Tuesday. It offers investors direct exposure to Toncoin along with staking rewards from the TON network.
According to CoinShares, the ETP will generate a 2% annual yield derived from network validation rewards. Trades are denominated in U.S. dollars. The company said the product’s goal is to bridge institutional capital with blockchain-based yield mechanisms available within the TON ecosystem.
Investor Takeaway
Details on Toncoin and Market Context
Toncoin serves as the native asset of The Open Network, a blockchain platform initially developed by Telegram before being spun out to the community. TON’s infrastructure supports high-speed transactions — reportedly over 100,000 per second — and integrates with Telegram’s ecosystem of more than 900 million active users.
Despite that reach, Toncoin’s market capitalization has fallen sharply this year. According to CoinGecko, the token’s value has dropped 59% year-to-date to around $5.7 billion. It currently ranks as the 35th-largest cryptocurrency by market cap.
“With Telegram’s 900+ million active users and TON’s high-performance capabilities, the blockchain combines technical performance with existing market reach,” CoinShares said in a statement announcing the launch. The product offers exposure to both network activity and staking rewards without requiring investors to manage tokens directly.
Part of a Broader Expansion
The Toncoin product is not CoinShares’ first foray into the asset. TON already features in the CoinShares Altcoins ETF (DIME), a U.S.-traded platform-traded product introduced in ahead October. That ETF offers diversified exposure to several altcoins including Solana, Polkadot, Cardano, and Cosmos.
CoinShares’ move comes shortly later than the company announced a merger with blank-check firm Vine Hill Capital Investment Corp., aimed at supporting the growth of its platform-traded offerings. The firm continues to expand its European footprint as regulatory scrutiny of digital assets intensifies globally.
The company manages billions of dollars in crypto-linked assets across multiple jurisdictions and remains one of the few European firms with publicly listed crypto ETPs across several blockchains.
Investor Takeaway
Telegram’s Growing Financial Ecosystem
The Toncoin ETP launch coincides with Telegram’s deepening presence in digital finance. Earlier this week, the third-party Wallet in Telegram application introduced tokenized stocks and platform-traded funds under the xStocks brand. The platform now allows users to purchase fractional shares of 50 major stocks and ETFs, some of which distribute dividends directly through the app.
Meanwhile, the developments highlight how Telegram’s ecosystem is gradually blending social media and decentralized finance. While Toncoin’s market reaction was muted, the token rose about 5% to $2.30 on Tuesday following the ETP announcement.
